McIntyre Supports Renewable Energy and Job Creation Act

Press Release

McIntyre Supports Renewable Energy and Job Creation Act

Yesterday, U.S. Congressman Mike McIntyre and a majority of the House of Representatives supported of legislation to help expand the production and use of renewable energy, create jobs across the country and provide tax relief to middle class families.

"High gas prices have only highlighted the need for a real energy policy that moves us forward," said McIntyre. "This legislation makes the right investments in the renewable energy sources of the future, protects our environment and will help create hundreds of thousands of good-paying American jobs."

To reduce our dependence on foreign oil and to protect the environment, the Renewable Energy and Job Creation Act would increase the production of renewable fuels and renewable electricity, and encourage greater energy efficiency. It extends and expands tax incentives for renewable electricity, energy and fuel from America's heartland, as well as for plug-in hybrid cars, and energy efficient homes, buildings, and appliances.

Failing to extend some of these provisions could have significant consequences for American workers. A recent study showed that allowing the renewable energy incentives to expire would lead to about 116,000 jobs being lost in wind and solar industries through the end of 2009.

The legislation also supports businesses and provides tax relief to millions of American families. The bill extends the research and development tax credit to spur American innovation and business investment and cuts taxes for millions of Americans, including teachers, college students and families in states with no income tax. The bill would expand eligibility for the $1,000 refundable child tax credit and provide tax relief to homeowners who do not itemize their deductions by permitting them to deduct up to $700 of property taxes in addition to their standard deduction.

The legislation is fiscally responsible, does not add to the national debt and closes loopholes allowing corporations and executives to avoid U.S. taxes by shipping jobs and investment overseas

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