Udall Urges Congress to Extend Tax Credit for Wind Energy as Part of Payroll Tax Extension

Press Release

Today, on the heels of President Obama's call on Congress to extend the payroll tax cut, Mark Udall renewed his push to include the extension of wind energy production tax credits (PTC) in the overall legislation. Because of the crucial role the wind PTC has played in developing renewable power and shoring up well-paying jobs in Colorado and around the country, Udall believes Colorado has the opportunity to leverage significant economic growth out of a PTC extension - and now is the time to do it. The wind energy PTC is set to expire at the end of 2012, potentially jeopardizing Colorado jobs with employers such as Vestas, which employs over a thousand people in four manufacturing facilities in Colorado.

"Extending the wind energy tax credit is a policy move that can give Coloradans and Americans a great return on investment - a stronger economy, more local jobs and more affordable power for our homes," Udall said. "With employers like Vestas willing to invest in Colorado, Congress needs to act well before the deadline and give these employers certainty to plan ahead - otherwise those jobs will move to other countries. Failing to extend the production tax credit for wind energy will threaten the industry's growth and Colorado jobs, and I'll continue to push my colleagues for a better solution where Colorado keeps our jobs."

Udall has been a strong advocate for key tax credits for renewable energy, urging Congress earlier this year to include them in any upcoming tax policy. Last week, he signed on to a Colorado delegation letter calling on a congressional conference committee to extend the wind energy production tax credit as part of the payroll tax extension.

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