Washington, D.C. - Congressman Dave Loebsack released the following statement today after the President spoke at TPI Composites in Newton about the need to extend the Production Tax Credit (PTC) for wind energy and a greater investment in clean energy, including renewable fuels. Loebsack attended the President's speech in Newton this afternoon.
"I am pleased the President visited TPI in Newton today to highlight the importance of extending the Production Tax Credit for wind energy, which has played such a vital role in bringing back manufacturing jobs to the area. I have been pushing for some time to get Congress to act on extending the PTC and am pleased the President has committed to working on this issue. We cannot afford to let the PTC expire at the end of the year."
During the President's visit, Loebsack presented him with a letter that discusses his commitment to extending the PTC and also highlights Iowa's renewable fuel industry and the need to extend the biodiesel tax credit that expired at the end of 2011.
"Iowa is currently the largest renewable fuel producing state in the country. This industry has created thousands of good-paying jobs in Iowa communities and here in Newton," wrote Loebsack. "Unfortunately, Congress allowed the biodiesel tax credit to expire for the second time at the end of 2011. Iowa has more than a dozen biodiesel production plants so a reauthorization of the biodiesel production tax credit would provide Iowa's economy with a much needed boost, support good jobs for Iowans, and help reduce our dependence on foreign oil."
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