On the recordDecember 12, 2012
Impending budget cuts under sequestration pose a serious risk to America's leadership in a variety of areas. The one in particular that I want to focus on today is the serious risk to America's leadership on a clean-energy economy and to developing grid- scale energy infrastructure, made possible in part by the Production Tax Credit. These investments help to ensure our Nation's energy security and independence while spurring growth in a wind industry that supports over 70,000 jobs nationwide, including hundreds in Rhode Island. Mr. Speaker, Rhode Island receives 7 percent of its State revenue from Federal grants that are subject to sequestration. Unless averted by Congress, it could threaten the health of Rhode Island's local economies and risk another national recession. I know we have difficult choices ahead; but if there's one mandate both parties can claim from the November election, it is to solve our Nation's economic and fiscal challenges together. Although we may not agree on all aspects of a solution, we can all agree on the need to address the impending problem. The clock is ticking. ____________________
Source
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