Congresswoman Lynn Woolsey
Marin CountySonoma County
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Woolsey Backs Renewable Energy Tax Credits
September 26, 2008
-Legislation promotes energy independence, spurs creation of millions of new jobs-

Washington, DC – Congresswoman Lynn Woolsey (D-CA) today backed legislation to extend tax credits for renewable energy, calling the move “a huge step” towards energy independence.  The Renewable Energy and Job Creation Tax Act provides $15 billion in tax credits for companies and individuals who invest in alternative energy sources such as solar, wind, biomass, and wave.  In addition, it establishes tax credits of $3,000, or more, towards the purchase of plug-in hybrid vehicles, and provides financial incentives for green building projects.  The proposal passed the House 257-166.
 
“Our nation needs to end our dependence on oil and fossil fuels once and for all, and this legislation is a step in that direction,” said Woolsey.  “These tax credits will further develop the alternative energy sector, bringing new technologies on line, and making existing ones more affordable for millions of homeowners and businesses.”
 
While promoting environmentally friendly energy alternatives, the legislation will also have a significant economic impact, helping to create hundreds of thousands of new green collar jobs.  In fact, it’s predicted that the tax credits will create and preserve more than 500,000 such jobs in the wind and solar industries alone.  The legislation will promote the development of the next generation of clean and efficient alternative energy sources by providing $34 billion in R&D tax credits to more than 27,000 companies.
 
“For years, Marin and Sonoma counties have led the way in developing and using alternative sources of energy,” said Woolsey.  “Residents and business leaders here get it.  They realize that the only way to solve our energy crisis is to do our part by incorporating alternative energy solutions into our every day lives.  This legislation supports their efforts, and makes it more affordable for all of us to do the right thing.”

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