Bennet, Udall float wind tax credit amendment
U.S. Sens. Michael Bennet, D-Colo., and Jerry Moran, R-Kan., included the amendment into the Small Business Jobs and Tax Relief Act being debated this week, Bennet's office said. U.S. Sen. Mark Udall, D-Colo., is co-sponsoring the amendment, which would extend the credit for two years.
"Colorado is a proven leader in the development of wind energy production and would suffer a huge economic blow if this tax credit expires," Bennet said in a statement. "The wind (production tax credit) has helped our state attract new companies and create thousands of jobs in a diverse energy sector."
The amendment represents the latest attempt by lawmakers to secure an extension of the credit. A similar amendment attached to a transportation bill in February wasn't brought to a vote.
Vestas, which operates facilities in Windsor, Brighton and Pueblo, has pushed for the extension of the production tax credit. The company has threatened to cut 1,600 U.S. manufacturing jobs if Congress does not renew the credit.
Vestas will decide its future presence in the U.S. market during the third quarter in case the production tax credit is not extended.
The U.S. wind market could fall by 80 percent next year because of expected expiration of the credit, Vestas CEO Ditlev Engel has said.
Colorado's wind energy industry employs some 6,000 workers and generates the third highest percentage of power from wind nationwide, according to Bennet's office.
"Extending the wind production tax credit is a real, tangible way Congress can help move the economy forward and keep good-paying U.S. jobs from being exported overseas to China and other countries," Udall said in the statement.
More breaking news...
Coda's bankruptcy hampers UQM's year
The first bill, HB 13-1292, sponsored by Rep. Pete Lee (D-Colorado Springs) and Rep. Dan Pabon (D-Denver), requires state agencies to weigh "best
State launches innovation challenge
Revenue for the fourth quarter decreased
Start-ups in seven targeted industries are sought. The industries are:
- Vestas to cut 1,400 more jobs 8/22/12