NAM Supports Extending Manufacturing Tax Credit Mar 18, 2010

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National Association of Manufacturers (NAM) President John Engler issued a statement saying he was pleased to see an announcement by U.S. Vice President Joe Biden about extending the Advanced Energy Manufacturing Tax Credit by an additional $5 billion.

"It provides a 30% tax credit for investments in facilities that manufacture clean energy technologies including wind, solar, batteries, advanced transportation, and advanced energy transmission," Engler explained. "The initial tax credit program was capped at $2.3 billion and is already oversubscribed. If extended, this program will spur manufacturing investment and has the potential to generate thousands of jobs."

Engler added, "We hope Congress will follow the Administration’s lead and act quickly to expand the program.”

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