FOR IMMEDIATE RELEASE
December 14, 2011
Contact: Jack Thirolf
Email: [email protected]
Necessary to Spur Job Creation, Domestic Manufacturing and
U.S. Economic Growth
Washington, DC—Ahead of today's Senate Finance Committee hearing on The Effect of Short-Term Extensions on Alternative Technology Investment, Domestic Manufacturing, and Jobs, the Business Council for Sustainable Energy (BCSE) released the following statement from BCSE President Lisa Jacobson:
“Job creation and economic growth are the nation's top priorities. Clean energy tax incentives have a proven track record of creating jobs, supporting domestic manufacturing and generating revenue for states, municipalities and small businesses.
"Continued support for clean energy incentives is in the best interest of American taxpayers and supports a well-reasoned national energy strategy that improves our economic conditions at home and strengthens America’s competitiveness in the global marketplace. Examples of the ways in which American businesses and consumers use existing provisions of the tax code and other incentives to expand businesses and save money include:
- "The Production Tax Credit (PTC) and the Investment Tax Credit (ITC) have been effective tools to keep electricity rates low and encourage development of a wide range of proven clean energy projects, which must play a central role in America’s long-term electric energy supply.
- "The Section 1603 Treasury Program infuses critical monies into clean energy projects by bypassing a tax equity market paralyzed by the recent economic downturn while creating jobs and building a more competitive U.S. clean energy industry.
- "Clean Renewable Energy Bonding Authority (CREB) to ensure comparable tax incentives to customers of public power providers and rural electric cooperatives to employ innovative energy infrastructure investments.
- "Tax incentives that lower the cost and risk of exploration and drilling for natural gas to enable the industry to explore new areas for domestic production, which provides consumers and businesses with affordable, secure and clean energy sources.
- "The 48C competitive tax credit for advanced energy manufacturing was a critical start in helping to increase domestic clean energy manufacturing.
- "Tax incentives have successfully stimulated the energy efficiency market for items such as high-efficiency appliances, combined heat and power (CHP), improvements to residential and commercial building envelopes, including insulation and windows, as well as new technologies such as fuel cells.
"The Council strongly urges Congress to continue the federal commitment to clean energy tax incentives, and to extend clean energy tax incentives in any tax legislation that moves forward."
To learn more about the BCSE and its policy priorities, please view the Council's Statements and Recommendations.