Markey to Main Street: Job Creation, Strong Clean Energy Industry Central to Economic Recovery
House Bill Targets Jobs, Replenishes Renewable Energy Fund
Today the U.S. House of Representatives passed a $75 billion jobs package that will make targeted investments over the next year in highways and transit infrastructure, schools and teachers, police and firefighters, small businesses, and clean energy.
“Clean energy jobs will help move Americans out of the unemployment line and get them back on the assembly line building wind turbines and solar panels,” said Congressman Edward J. Markey (D-Mass.), who serves as Chairman of key committees on energy and the environment in the House. “The $2 billion included for renewable energy loan guarantees will jump start our manufacturing sector building the tools we need to need to help end our dependence on foreign oil.”
The package includes $2 billion for the Department of Energy’s renewable energy loan guarantee program, an investment Rep. Markey has pushed for since the loan guarantee account was drawn down earlier this year in order to extend the highly successful Cash for Clunkers program.
Last week Markey joined with Reps. Henry A. Waxman (D-Calif.), Jay Inslee (D-Wash.), John D. Dingell (D-Mich.) and more than twenty-five other House colleagues, to send a letter to Appropriations Committee Chair David Obey urging the restoration of $2 billion for the Department of Energy's renewable energy loan guarantee program. Originally appropriated $6 billion through the American Recovery and Reinvestment Act in February, the renewable energy loan account was reduced by $2 billion in July to extend the Cash for Clunkers program. Restoration of these funds will allow DOE to issue additional renewable energy grants through the end of next year.
“Earlier this year, decisive government action saved the economy from another depression.” Markey said. “With the economy now showing signs of recovery, Democrats in the House sent a very clear message to Main Street: job creation and a strong clean energy industry are central to the American economic recovery.”
Scaling up a domestic clean energy industry will drive new job creation in the near term and increase America’s economic competitiveness over the long term. Loan guarantee assistance enables $1 billion in public funding to leverage $10 billion in private investment. Restoration of the $2 billion will allow the DOE to continue committing loan guarantees through 2010, providing valuable fuel to the economic recovery. Last week's letter was signed by a total of thirty-one members of Congress.
The Select Committee was active during the 110th and 111th Congresses. This is an archived version of the website, to ensure that the public has ongoing access to the Select Committee record. This website, including external links, will not be updated after Jan. 3rd, 2010.
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