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Companies have received more than $10 billion to create jobs and renewable energy by building wind farms, solar projects and other alternatives to oil and natural gas under section 1603 of the American Recovery and Reinvestment Act of 2009. The program expired in December, and President Barack Obama proposed last week that Congress revive it in the 2013 budget, says the Wall Street Journal.
The 1603 program was an important part of the government’s push to encourage investment in alternative energy.
But the Journal found evidence of far fewer. For example:
The American Wind Energy Association lobbied successfully in late 2010 to extend the 1603 program through 2011, predicting it would create thousands of jobs. Wind companies wound up with more than $7 billion of the 1603 money, yet industry payrolls declined to 75,000 last year from a peak of 85,000 in 2009, according to the association.
Read WSJ article here
Senate rejects Stabenow Amendment which would have extended the Production Tax Credit for Wind — This is great news, but we need to make sure that it does not get extended throughout the remainder of the year! See how our Senators voted here: Vote on Extension of PTC 3/13/2012