Press Release - Clean Energy Tax Credits Urged
OFFICE OF GOV. BILL RITTER, JR.
FOR IMMEDIATE RELEASE
WEDNESDAY, JULY 23, 2008
CONTACT:
Evan Dreyer, 720.350.8370, evan.dreyer@state.co.us
GOV. RITTER JOINS NATION'S GOVERNORS URGING CONGRESS TO EXTEND RENEWABLE ENERGY TAX CREDITS
Gov. Bill Ritter today joined the governors of every other state in the nation urging Congress to extend for at least five years tax credits that encourage renewable energy development and promote energy efficiency. The credits are set to expire at the end of this year.
"Renewable energy plays an important role in our nation's energy security, and governors have pioneered a wide array of innovative energy policies in their states," the governors wrote to Congressional leaders. "To supplement state efforts, governors support the development of federal tax incentives, including clean renewable energy bonds, to promote clean, secure, and affordable energy to fuel America's future."
"Colorado is quickly becoming a national and international leader in building a New Energy Economy," Gov. Ritter said. "We need Washington to be a strong partner in this. If these credits are allowed to expire, an estimated 100,000-plus jobs and billions of dollars of investment will be at risk nationally. In Colorado, continuing these incentives will be a significant step forward for our economy, for our businesses and for our communities."
The text of the letter is below. The letter, including signature pages, is attached.
July 23, 2008
Dear Senator Reid, Senator McConnell, Speaker Pelosi, and Representative Boehner:
The nation's governors urge Congress to extend for at least five years tax provisions that encourage the development of renewable energy sources and promote energy efficiency.
Last February, leadership of the National Governors Association wrote the leaders of Congress' tax writing committees to urge enactment of legislation containing these provisions. Since that time, however, efforts to advance them have fallen short. Extending these credits is critical and action must be taken as soon as possible.
Renewable energy plays an important role in our nation's energy security, and governors have pioneered a wide array of innovative energy policies in their states. To supplement state efforts, governors support the development of federal tax incentives, including clean renewable energy bonds, to promote clean, secure, and affordable energy to fuel America's future.
We also encourage Congress to continue to develop incentives for programs that help families and businesses use energy-efficient building techniques, materials, and equipment readily available in today's market.
Extending incentives for energy efficiency and conservation will slow the growth of future energy needs, minimize ratepayer costs, and lessen potential environmental impacts.
Securing our energy future must be a priority at both the state and federal levels. We strongly urge you to partner with states by passing legislation on a bipartisan basis to extend expiring renewable energy and energy efficiency tax credits that can be enacted this year.
Sincerely,