"Clean Energy Victory Bonds" Bill Would Extend Production Tax Credit for 10 Years
WASHINGTON, Aug. 2, 2012 /PRNewswire-USNewswire/ -- A new way of continuing the Production Tax Credit (PTC) and other clean energy incentives for a decade is set out today in the "Clean Energy Victory Bonds Act of 2012," which would allow Americans to invest billions of dollars to help develop clean energy and energy-efficient technologies.
The bill, H.R., 6275, is sponsored by U.S. Representative Bob Filner, joined by 10 co-sponsors, and supported by the nonprofit Green America and more than 40 other institutions. For more information about Clean Energy Victory Bonds, go to http://www.cleanenergyvictorybonds.org.
To date, the rapid growth of clean energy has benefited from federal incentive programs, including the PTC, which supports wind power and has helped generate thousands of jobs. The federal PTC provisions are slated to expire this year. Clean Energy Victory Bonds would extend the PTC and other proven federal programs by up to a decade. They would also give all Americans a way to invest in a clean energy future that creates energy independence, jobs, and economic opportunities.
Alisa Gravitz, president, Green America said: "The importance of a clean energy future for America cannot be overstated. Just like Victory Bonds helped to ensure the nation's victories in World War II, so, too, can Clean Energy Victory Bonds allow Americans to invest in a future that benefits our country economically, politically, and environmentally."
During WWII, 85 million Americans purchased Victory Bonds from the federal government to help restore the U.S. economy. The program raised $185 billion, the equivalent of $2 trillion in today's dollars. Clean Energy Victory Bonds could leverage $50 billion in investments to create more than $150 billion in public and private finance for clean energy.
In addition to Green America, the roster of organizations backing the Clean Energy Victory Bond Act of 2012 includes: 350.org, American Sustainable Business Council, Center for American Progress, ConservAmerica, Ceres, Calvert Investments, The Change, Clean Edge, Clean Yield, Cleantech Institute, Climate Bonds Initiative, Ethical Markets, LLC, Franciscan Action Network, Green Choice Bank, Green for All, GreenandProfitable.com, Kansas Energy Information Network, Kenergy Solar, EcoOptions, Ltd, Lazarus Financial Planning, Natural Investments, New Resource Bank, New Voice of Business, Pax World Funds, Rural Renewable Energy Alliance, and Self Help.
Clean Energy Victory Bonds are an effective method for spurring investment in a prosperous and sustainable future. Americans could purchase Clean Energy Victory Bonds from the U.S Treasury to help fund the rapid deployment of renewable energy development projects and energy efficiency upgrades.
Benefits would include:
- Uniting individuals, communities, and companies to help finance the rapid deployment of renewable energy projects and energy efficiency upgrades;
- Enabling anyone with savings to help put new renewable projects on the ground, with an investment of as little as $25;
- Creating a safe investment for Americans that pays a competitive rate of return; and
- Helping to create 1.7 million new jobs manufacturing, deploying, and maintaining renewable energy development projects.
ABOUT GREEN AMERICA
Green America is the nation's leading green economy organization. Founded in 1982, Green America (formerly Co-op America) provides the economic strategies, organizing power and practical tools for businesses and individuals to solve today's social and environmental problems. For more information, visit: http://www.greenamerica.org and www.CleanEnergyVictoryBonds.org
SOURCE Green America, Washington, D.C.