Maria Cantwell: “I rise today to speak about clean energy production tax credits, investment tax credits, and the energy efficiency…”

“I rise today to speak about clean energy production tax credits, investment tax credits, and the energy efficiency provisions in the pending stimulus package, which I think are critical to restoring economic growth in America and continuing what is a burgeoning industry that is helping us create jobs and economic stimulus across our country. We are talking about tax credits that are a proven stimulus and business investment. They give consumers, in this case, energy efficiency credits of up to $500 to make energy efficiency improvements to their homes, which could save homeowners as much as $800 per year in avoided energy costs. We are talking about $20 billion of stimulus and 116,000 jobs that could be impacted. The bottom line is the renewable energy industry generated over $40 billion of revenue in 2006 and accounted for 450,000 direct and indirect jobs last year. So we know that clean energy is one of the fastest growing sectors of our economy. But by failing to act when we didn't pass these critical tax incentives last year, we caused turbulence in what is a very new and growing industry. And if the Senate rejects these incentives now, we could put this industry in a tailspin by not giving them predictability on their tax credits. That is why it is so important we pass the stimulus package tomorrow.”