Apr 25, 2012John McCauley
Congressman Thompson, Vets, Industry Experts Call For Wind Power Tax Credit Extension
WASHINGTON—Today, at a press event, Congressman Mike Thompson joined retired Marine Corps Lieutenant General John Castellaw; Mike Breen, Vice President of the Truman National Security Project; and Jeff Duff, President of veterans clean jobs training company Airstreams Renewables, to talk about how critical renewing the Wind Production Tax Credit (PTC) is to America’s economic and national security. The Wind PTC is an important federal program without which 37,000 jobs and $10-20 billion of domestic investment will be lost next year and thereafter.
Congressman Thompson, a Vietnam Army veteran and member of the House Ways and Means Committee, made clear the urgency of passing an extension to the Wind PTC. “We must do everything we can to encourage the use of clean, renewable, and domestic sources of energy. That is why I have coauthored legislation that would extend the Production Tax Credit,” said Thompson. “Extending these tax incentives will give businesses certainty, help create and save more than 50,000 American jobs in the next four years, and allow us to strengthen our national security by reducing our dependence on foreign oil. Congress should act now.”
Wind power is a critical part of America’s energy independence. Wind is the second-fastest growing source of energy in America, producing enough power for ten million American homes. This growth in wind energy is possible because of the Wind PTC, which rewards companies for producing clean wind power. This federal tax incentive program provides 2.2 cents to companies for every kilowatt-hour produced for their first ten years of operation.
“We’re going to need sources of energy we can rely on in the twenty-first century,” said Breen. “Wind energy is already a clean source of power that provides energy for ten million American homes. We should be doing whatever we can to take advantage of this reliable source of domestic power. If Members of Congress take America’s energy security seriously, they will work quickly to renew the Wind Production Tax Credit.”
Learn more at www.OperationFree.net. Operation Free is an advocacy campaign of the Truman National Security Project.