December 16,2009

Baucus Comment Regarding Vice President Biden’s announcement on Advanced Energy Manufacturing Tax Credit

MEMORANDUM

To: Reporters and Editors

From: Dan Virkstis for Senate Finance Committee Chairman Max Baucus (D-Mont.)

Re: Baucus comment regarding Vice President Biden’s announcement on Advanced Energy Manufacturing Tax Credit

Senate Finance Chairman Max Baucus (D-Mont.) commented today following the Vice President’s announcement that the Administration seeks to add $5 billion in funding to the advanced energy manufacturing tax credit, a Finance Committee provision drafted by Chairman Baucus as part of the American Recovery and Reinvestment Act. The provision consists of a 30 percent tax credit for domestic clean energy manufacturing facilities that produce wind turbines, solar panels, smart grid equipment and other clean, renewable energy products.

From Chairman Baucus:

“I am pleased the Administration is following through on earlier discussions to increase funding for what has been a highly effective tax measure. The Finance Committee identified and drafted this provision during the Recovery Act to get America moving toward two goals: to spur job growth and to increase domestic energy production. We have kept a close eye on implementation of this credit, both in terms of energy independence and for creating jobs, and the results are encouraging. These energy investment tax credits will help to keep our alternative energy sector moving forward, growing jobs at home and leadership abroad as we confront the demand for clean, renewable energy.”


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