The Production Tax Credit

Floor Speech

Mr. McNERNEY. Mr. Speaker, I stand in support of the wind power industry and the Production Tax Credit. The PTC has been instrumental in helping create jobs. The wind industry now supports 80,000 American jobs in 44 States.

Last week, a bipartisan Governors' Wind Energy Coalition wrote to the leaders of both Chambers of Congress asking for a multiyear extension of the PTC. They confirmed that, due to the delayed extension of PTC in 2013, only one wind turbine was installed in the first 6 months of this year, a 99 percent decrease from the $25 billion invested in 2012.

A year and a half ago, the American Wind Energy Association commissioned a report that found a 4-year extension of the PTC would secure some 54,000 jobs. The PTC expiration has resulted in an average 81 percent decrease in wind energy installations.

Democrats and Republicans have repeatedly come together to extend the PTC. That cooperation is needed again.

I urge my colleagues to support American jobs by supporting a multiyear extension of the Production Tax Credit.

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