Both the expansion of the wind industry in 2013 and thousands of U.S. jobs are dependent on the fate of the PTC, he said.
‘If Congress lets the renewable energy production tax credit expire, we will let down the 80,000 people working on wind farms and manufacturing facilities across the nation, and we may cost this country $10 billion in lost investments,’ Franken said. ‘America cannot afford to wait any longer. Congress must act now to extend this important measure for American business and manufacturing.’
Urgent action to extend the tax credit is imperative, he added.
‘If we don't extend the tax credit this month, it will be too late for the wind industry to build any turbines in 2013,’ Franken announced on the Senate floor. ‘If wind farms can't depend on the tax credit for 2013, they can't make plans to build for next year, which means they can't make orders to 400 manufacturing facilities across the country for parts."
Franken's entire speech can be viewed here.