On the recordFebruary 15, 2012
I thank the Senator from Vermont and also the Presiding Officer and the Senator from Rhode Island for engaging in this colloquy that is so important. Mr. President, I rise today to urge my colleagues in the Senate to support an extension of the renewable energy production tax credit. This tax credit, slated to expire at the end of this year, has created thousands of jobs for the wind industry, has reduced our dependence on foreign oil, and is hugely important to Minnesota and to the Nation. But because it takes a lot of time to order and manufacture new wind turbines, investors need to know the credit will exist in 2013 or else they will not invest. That is why the credit must be extended now, along with the payroll tax extension and unemployment benefits. If Congress lets the renewable energy production tax credit expire, we will let down the 80,000 people working on wind farms and manufacturing facilities across the Nation, and we may cost this country $10 billion in lost investment. Already, because of uncertainty about the fate of the production tax credit, investment in the wind industry is drying up. America cannot afford to wait any longer. Congress must act now to extend this important measure for American business and manufacturing and, indeed, for the future of our planet. Just a few weeks ago, I received a letter from Terry and Janet Carlson, who run a family farm in Parkers Prairie, MN, and are developing a wind project in their community.…
