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McDermott and Ways and Means Democrats Introduce Bills to Extend Wind Energy Tax Credit, Provide Hiring Tax Credit

Statement

By:
Date:
Location: Washington, DC

Today, Congressman Jim McDermott (D-WA), a senior member of the House Ways and Means Committee, joined his fellow Democratic colleagues on the Committee and introduced two more jobs bills as part of the "No Excuses Agenda" -- the Agenda is intended to encourage Congressional Republicans to finally act to spur job growth. McDermott and his colleagues introduced the "Wind Powering American Jobs Act of 2012" and the "Hire Now Act of 2012" -- two bills that have received bipartisan support and would help the economy.

"Since President Obama took office, the stated goal of Republican leadership has been to prevent his reelection. They have become the party of "no,' even at the expense of the American people," said Congressman McDermott. "Recognizing this, we are offering two more bills that Republicans should have no problem passing. Each bill has Republican support, is fully paid for, and is known to save and create jobs."

The Wind Powering American Jobs Act would extend through 2013 the production tax credit for wind energy manufacturers, a highly successful measure that expires at the end of the year. The Hire Now Act would provide a 10 percent income tax credit for employer payroll increases this year, an identical measure to one included in the Small Business Jobs and Tax Relief Act of 2012, which will soon be acted on in the Senate. Both measures would be paid for by ending tax breaks for the Big Five oil and gas companies, which earned a combined $32 billion in profits during the first three months of 2012 alone. (See summaries below for more information on each bill.)

McDermott added, "For the sake of struggling Americans and U.S. businesses, I hope that my Republican colleagues will finally move beyond the politics of "no' and allow these bills to come to the floor. Failing to pass these bills would show, yet again, that the Republican majority is more interested in Presidential politics than doing the right thing for the American people."

Today's bill introductions add to the No Excuses Agenda that McDermott and his Ways and Means Democratic colleagues kicked off last week with the introduction of legislation to extend 100 percent Bonus Depreciation through 2012, another bipartisan provision that Republicans in Congress have so far failed to bring up for a vote.


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