Congressman continues work to extend Wind Production Tax Credit
Washington, D.C. - Rep. Bruce Braley (IA-01) today told key Congressional leaders that renewing the Wind Production Tax Credit?which has created billions of dollars in energy investment in Iowa and created over 6,000 jobs?must be renewed if the United States wants to continue moving toward energy independence.
"Anyone looking across the Iowa landscape knows that wind energy is a big part of our energy future?and that the Wind Production Tax Credit has brought investments and jobs to our state," Braley said. "The path to American energy independence runs through Iowa and the wind production tax credit is critical if we're going to continue moving successfully down that path."
In December, Braley urged House Speaker John Boehner to extend the Wind Production Tax Credit?citing the creation of over 80,000 jobs nationwide attributable to the tax credit. Braley has repeatedly pushed for legislation that would extend the tax credit and provide certainty to investors and businesses in Iowa and throughout the nation.
"The benefits of this industry - local investment, domestic jobs, and energy independence - are exactly what Congress should prioritize," Braley wrote.
A copy of Braley's letter is available below and HERE:
April 28, 2014
The Honorable Dave Camp
Chairman, House Committee
on Ways and Means
1102 Longworth HOB
Washington, D.C. 20515
Dear Chairman Camp and Ranking Member Levin:
As you know, last year Members of Congress came together to pass the American Taxpayer Relief Act and preserve critical policies that benefit the American taxpayer, support our economy, and create jobs. Included in this bill was an extension of the tax credit for wind production projects, which in 2012 directly supported 80,700 jobs across our nation and more than 6,000 in my home state of Iowa. As you work to craft a tax-extension package to address expired provisions, I ask that you support the preservation of the production tax credit for renewable energy, including wind.
Preservation of the production tax credit would allow businesses to make critical investments in our nation's energy infrastructure. MidAmerican, for instance, is making an investment of $1.9 billion to build a 448-turbine energy project across the state of Iowa - increasing clean energy production and creating jobs.
Unfortunately, investors and manufacturers are once again dealing with the expiration of this credit - a credit that historically drives $15 billion a year on average in private investments into the U.S. economy. The benefits of this industry - local investment, domestic jobs, and energy independence - are exactly what Congress should prioritize. As the House continues to address expiring provisions, I urge you to preserve the production tax credit and the promise it holds for our nation's future.
Sincerely,
Bruce Braley
Member of Congress
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