Wednesday, October 1, 2008

Coalition of Close to 700 Companies and Organization Urges Congress to Act on Tax Credits

A broad coalition of nearly 700 businesses, environmental organizations, public health advocates, electric utilities, agricultural organizations, investors, labor groups, non-governmental organizations, states, and trade associations today urged the House and Senate to put aside their differences and pass legislation that would renew tax cuts for renewable energy, research and development and other purposes.

In a letter to bipartisan Congressional leadership, companies and organizations from across the political spectrum urged that when the House and Senate consider the financial rescue package, which the House rejected on Monday, they “secure a final House – Senate agreement” on the tax extenders legislation.

The companies warned that failure to pass the legislation this week would jeopardize “hundreds of thousands of jobs, billions of dollars in clean energy investment, crucial incentives for research and development, and a range of popular programs.”

The tax extender legislation is now part of the financial rescue plan that will be voted on by the Senate Wednesday and, if it passes, will be forwarded to the House for approval.

“We need immediate action. If Congress fails to complete this effort, it will be a serious blow to the future of renewable energy in America.” said Gregory Wetstone, Senior Director for Legislative and Public Affairs at the American Wind Energy Association.
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