Jon Tester: “I rise to emphasize the importance of extending the production tax credits for renewable energy in the tax package we…”

“I rise to emphasize the importance of extending the production tax credits for renewable energy in the tax package we are voting on today at 2:15. These tax credits have helped create a strong and growing renewable energy industry, not only for wind power but also for geothermal, biomass, and landfill gas. Wind power, especially in a State such as Montana and across the country, is critically important, but we have a long way to go before renewable sources of energy can have the full impact on lowering energy costs and fighting climate change. That is why these tax credits are so very important. Last year the United States installed more than 52 hundred megawatts of wind power, enough to power a million and a half households for an entire year. Put another way, if the population--every man, woman, and child in Montana and Wyoming--each had their own house, there would be a million and a half homes. All that wind power was about a $9 billion investment into the economy. Wind now powers over 4.5 million homes in the United States. At this rate, the United States will overtake Germany as the world's leader in wind power next year, but only if we extend this tax credit. Unfortunately, everything grinds to a halt if the tax credits are not extended. Congress has let these tax credits lapse before. Each time we have seen growth in the renewable energy industry flatline. This chart shows exactly what happens when we refuse to extend the tax credits.”