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Udall Urges Senate to Extend Renewable Energy Tax Credits Vital to Wind Industry in Colorado

Press Release

Location: Unknown

As the Senate prepares today to vote on energy tax extension package authored by Senator Debbie Stabenow of Michigan, Mark Udall reminded his colleagues about the importance of the wind energy tax credits to Colorado's economy and urged them to support the amendment. The wind energy production tax credit has helped create thousands of Colorado jobs, but those jobs are at risk if the tax credit expires as scheduled at the end of 2012.

"Allowing the wind energy tax credit to expire would be an enormous mistake - it would cause irreparable harm to the wind industry, on which thousands of Coloradans depend for their livelihoods," Udall said. "Without this tax credit, the industry will crash. In fact, a crash is already beginning. Vestas may lay off more than 80 percent of its workforce in Colorado if the PTC is not extended soon. I'm fighting every day for this extension, and we need to do it now. This isn't something we can afford to put on the backburner until the last minute."

Stabenow's amendment also includes several other energy tax credits that support energy efficient homes, biofuels and others.

Udall has pushed hard to extend the wind PTC and to support Colorado's wind industry, urging Senate and administration leaders at every opportunity not to delay and put the industry - and jobs - at risk. Last month, he joined Senator Bennet and Senator Jerry Moran of Kansas in introducing a bipartisan amendment to extend the wind PTC. Udall and Moran also led 10 of their colleagues, including Bennet, in sending a letter urging the leaders in both parties to act on the wind energy production tax credit as soon as possible.

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