Extending the Production Tax Credit

Floor Speech

Mrs. CAPPS. Mr. Speaker, last month, our Nation reached a significant milestone in the growth of homegrown renewable energy. The United States surpassed 50 gigawatts of installed wind power capacity, which is enough to power over 13 million American households a year. This is a major accomplishment for an industry predicted to deliver only a quarter of that amount a decade ago.

We should be celebrating this success brought about by innovation, hard work, and smart policies. Sadly, the celebration may be a short one if Congress doesn't act swiftly to continue the bipartisan production tax credit, which is a key factor in wind power's expansion. My constituents who work at companies like Clipper Windpower and Infinity Wind Power have told me that letting the PTC lapse would devastate their industry and eliminate thousands of jobs.

It's time to give these companies certainty by taking up a multiyear extension of the PTC without delay. Our country cannot afford to pull the rug out from under a true American success story. Let's renew the production tax credit now and maintain our leadership in transitioning to cleaner, safer sources of energy.

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