Braley Urges Speaker Boehner to Include Wind Energy Tax Credit in Year-End Tax Legislation
Tax credit set to expire at the end of the year, supports more than 6,000 jobs in Iowa
Washington, DC – Rep. Bruce Braley (IA-01) today called on Speaker Boehner to extend the wind energy production tax credit in any year-end tax package that passes before the end of this year. An extension of the tax credit was included in the American Tax Payer Relief Act that was passed in January, but is set to expire at the end of the year.
Braley said, “The wind energy industry creates clean energy, domestic jobs and energy independence – each of these are important priorities to encourage. The wind energy production tax credit is responsible for thousands of jobs and innovative energy projects across the country, including Iowa.
“Extending the production tax credit will continue to provide investors and job creators with the certainty they need to continue to grow the clean energy industry. That’s why today I’m calling on Speaker Boehner to extend this tax credit to provide the stability the industry needs to thrive.”
In the letter, Braley said that extension of the production tax credit provides investors and job creators with the ability to plan for the future of the renewable energy industry and make critical investments in our nation’s energy infrastructure.
More than 80,700 jobs across the country, including 6,000 in Iowa, can be attributed to tax credit. Because of the predictability and stability provided by this tax credit, companies are able to make sound investments in wind energy production. For example, MidAmerican is making an investment of $1.9 billion to build a 448-turbine project across Iowa. Projects like these increase clean energy production and create jobs.
The text of Braley’s letter to House leaders is below; a copy can be viewed at the following link: http://1.usa.gov/ID8Jnv.
December 10, 2013
The Honorable John Boehner
Speaker, U.S. House of Representatives,
H-232 U.S. Capitol
Washington, D.C. 20515
Dear Speaker Boehner,
Last January, Congress came together to pass the American Taxpayer Relief Act and preserve critical policies that benefit the American taxpayer, support our economy, and create jobs. Included in this bill was an extension of the tax credit for wind production projects, which in 2012 directly supported 80,700 jobs across our nation and more than 6,000 in my home state of Iowa.
Extension of the production tax credit provides investors and job creators with the ability to plan for the future of the renewable energy industry and make critical investments in our nation’s energy infrastructure. Because of the predictability and stability provided by the extension of the production tax credit, investors in Iowa have been given the surety they rely on to plan. MidAmerican, for instance, is making an investment of $1.9 billion to build a 448-turbine energy project across the state of Iowa – increasing clean energy production and creating jobs.
Not only does this policy support our economy, it preserves our environment. Each year wind projects in my home-state save more than 3.2 billion gallons of water and avoid over 8.7 metric tons of carbon dioxide emissions - the equivalent of taking 1.5 million cars off of the road. The benefits of this industry – clean energy, domestic jobs, and energy independence – are exactly what Congress should prioritize. As the House continues to address expiring provisions and debate federal tax reform, I urge you to preserve the production tax credit and the promise it holds for our nation’s future.