video: NEW: Langevin Warns of Fiscal Cliff Impact on Clean Energy Development
Wednesday, December 12, 2012
Continuing his push for a deal that averts the damaging effects of the fiscal cliff, Congressman Jim Langevin (D-RI) is highlighting the consequences for clean energy jobs in Rhode Island and nationwide if a balanced agreement is not reached. Speaking on the House floor today, Langevin specifically pointed out that investments in wind energy would be slashed through the expiration of the Production Tax Credit at the end of the year and potentially through the impact of automatic across the board cuts, known as sequestration, on research and development. He joined fellow members of the Sustainable Energy and Environment Coalition to advocate that any budget deal must recognize the significant economic benefits of having a robust clean energy industry.
Langevin has strongly supported wind energy, recognizing the potential for Rhode Island to lead in this area and boost the state’s economy. He has advocated for the state to be the site of the nation’s first offshore wind farm and has previously worked to help renew the Production Tax Credit, which provides an income tax credit of 2.2 cents per kilowatt-hour for the production of electricity from utility-scale turbines.
Across the country, wind energy is one of the fastest growing drivers of new American manufacturing jobs, with the American Wind Energy Association reporting that more than 60 percent of all of the turbines installed in the U.S. are produced domestically, in large part due to the wind Production Tax Credit. Furthermore, median wage salaries are 13 percent higher in green energy careers than the economy average and the clean energy sector is growing at nearly double the rate of the overall economy.
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