Mr. POLIS. Mr. Speaker, I rise today as a member of the House Sustainable Energy and Environmental Coalition to call on Congress to renew the wind production tax credit.
The wind production tax credit provides a small tax incentive to wind companies to produce clean domestic energy. This tax incentive promotes investment, creates jobs, and encourages deployment of wind energy. At the end of this year, the wind production tax credit expires unless Congress acts.
This tax credit is essential to level the playing field for wind energy. For instance, the oil and gas industry gets around $40 billion in subsidies over 10 years. If we can eliminate oil and gas subsidies, let's do it. If not, we need to renew the wind production tax credit. The tax credit supports 5,000 jobs in Colorado and 75,000 jobs nationally. We cannot afford to lose these jobs.
Both Democrats and Republicans, Senators and House Members agree we need to extend this commonsense tax credit. I urge my colleagues to work together to extend the wind production tax credit to protect and grow America's thriving wind industry.