Braley working across party lines to extend wind energy production tax credit
Washington, DC - Today, Rep. Bruce Braley (IA-01) announced a bipartisan effort to boost job growth in the expanding wind energy industry. Braley joined with Representatives Dave Reichert (R-WA) and Earl Blumenauer (D-OR) to introduce a bill extending the renewable energy production tax credit through 2016. Unless current law is changed, the wind energy tax credit will expire at the end of 2012.
Iowa is first in the nation in per-capita wind energy production, and second nationally in total annual wind energy production in megawatt-hours. According to the Iowa Wind Energy Association, the Iowa wind energy industry already employs over 3,000 full-time workers.
"Investments in Iowa's wind energy industry have created thousands of jobs and made Iowa a world leader in clean energy technology," Braley said. "Extending the renewable energy production tax credit will keep the economic momentum going. Wind energy is still a widely untapped resource in Iowa - and that means there's still untapped potential for business investment and job creation.
"Wind energy is good for the economy, good for the environment, and good for farmers. Our bipartisan bill will promote job-creating wind energy projects and provide incentives to expand wind energy production."
The American Renewable Energy Production Tax Credit Extension Act extends the wind energy production tax credit by four years, allowing it to expire at the end of 2016. It also extends a production tax credit for biomass and geothermal energy production by three years, allowing it to expire at the end of 2016 as well.
Braley introduced similar legislation extending the renewable energy production tax credit in 2008 and 2009.
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