Bob Menendez: “it is critical that the Senate extend renewable tax credits now so that capital for next year's wind and solar projects…”

“it is critical that the Senate extend renewable tax credits now so that capital for next year's wind and solar projects do not dry up. Unfortunately my friends on the other side of the aisle have blocked every previous attempt to extend these much-needed tax credits. Why have they decided to block something as popular as renewable energy tax credits? One can only wonder if it's because they prefer to defend something as unpopular as record oil company profits over reducing record family energy costs. Every single time we have attempted to fund a renewable energy tax credit by rolling back completely unnecessary oil subsidies, the other side of the aisle has sided with Big Oil over the American people. Well now it is time to try another strategy. We have been blocked from taking the financially responsible path of paying for the renewable energy tax credits. But we simply cannot afford to stand by and do nothing as our economy continues to slump and energy prices continue to put more unnecessary financial stress on New Jersey families. We must find a way forward. Anyone who is not living under a rock understands three things: Our economy is in serious trouble; the climate crisis is getting worse and we must act immediately to avert the worst affects of global warming; and energy prices are rising through the roof.”