Stabenow: Clean Energy Tax Cuts are Creating Jobs in Michigan According to MEDC
U.S. Senator Debbie Stabenow (D-MI), a member of the Senate Finance Committee, yesterday heard testimony on the success of the Advanced Energy Manufacturing Tax Credit (also known as the 48C tax credit, for its section of the tax code) from Douglas Parks, Senior Vice President for Business Development and Attraction at the Michigan Economic Development Corporation. Mr. Parks testified at a subcommittee hearing that examined the role of federal tax incentives in clean technology manufacturing. Senator Stabenow and Senator Jeff Bingaman (D-NM) co-authored the Advanced Energy Manufacturing Tax Credit, which has created over 17,000 jobs nationwide. The tax credit was included in the American Recovery and Reinvestment Act.
"As Mr. Parks said in his testimony, the Advanced Energy Manufacturing Tax Credit is creating jobs in Michigan. Twelve manufacturers in Michigan took advantage of the tax credit, which I co-authored, to build facilities that make advanced technologies like wind turbines, solar panels, and batteries. Without these investments, we will lose the race with other countries like China, which spends $288 million a day to develop clean energy technology. I will continue working in the Senate to expand this tax credit to support manufacturers who are ready to put people back to work in Michigan." --U.S. Senator Debbie Stabenow