Stabenow Praises President Obama's Announcement of Clean Energy Manufacturing Tax Credits for Michigan Companies
U.S. Senator Debbie Stabenow today praised President Obama for announcing that fourteen Michigan companies will receive millions in tax credits that she created for advanced energy manufacturing. As a member of the Senate Finance Committee, Senator Stabenow co-authored the tax credit with Energy Committee Chairman Jeff Bingaman (D-NM) as part of the American Recovery and Reinvestment Act, which passed earlier this year. The credit provides Michigan businesses with an incentive to produce renewable energy technologies such as solar panels, wind turbines, and advanced batteries here at home, creating clean energy jobs.
"We are in a race with other countries like China who is spending $288 million a day in developing clean energy technology. That's why I am pleased that the President awarded fourteen Michigan companies millions in manufacturing tax credits which I co-authored in the recovery act. These awards demonstrate how Michigan is poised to lead the country in the development of new, clean energy jobs in areas such as wind, solar, geothermal, and advanced batteries for vehicles.
"These investments will make sure Michigan and America win the race to diversify and build the clean energy technology of the future. I'm leading the effort in the Senate and working with Vice President Biden to secure an additional $5 billion in tax credits as part of a jobs bill this year so more manufacturers will be able to put people back to work."
--U.S. Senator Debbie Stabenow.