Knowing of your support for clean energy, specifically the U.S. wind power industry, I wanted to share with you a bipartisan letter I recently sent to the House of Representatives' Ways and Means Committee in support of extending the successful Production Tax Credit (PTC), which expires later this year.
As you may know, swift action on this tax credit will avert thousands of layoffs already beginning at companies and factories across America. According to the American Wind Energy Association, failure to extend the PTC could result in the loss of over $15 billion a year in private investment in America and at least 37,000 U.S. jobs within the year.
I've heard straight from several companies in our congressional district -- like Clipper Wind, Champlin Windpower, and Infinity Wind Power -- about the impact the uncertainty is having on their businesses. They are making investment decisions right this minute, and since wind projects involve investments of tens of millions of dollars, or sometimes more, those investments are on hold until Congress takes action on the tax credit.
Like you, I believe that increasing the amount of energy the nation gets from wind power is a wise choice. That's why I'll continue working with my colleagues on both sides of the aisle to extend the PTC, which will spur growth and development, reduce electricity costs, and create American jobs.
Thank you for this opportunity to update you on this important issue before Congress. Please keep in touch by visiting my website, liking my Facebook page, following me on Twitter, or by signing up for my e-newsletter.
MEMBER OF CONGRESS