[Congressional Record (Bound Edition), Volume 158 (2012), Part 10]
[House]
[Page 13884]
[From the U.S. Government Publishing Office, www.gpo.gov]




            PRODUCTION TAX CREDIT AND INVESTMENT TAX CREDIT

  (Mr. KEATING asked and was given permission to address the House for 
1 minute.)
  Mr. KEATING. Mr. Speaker, I rise to reiterate my support for the wind 
production tax credit and the investment tax credit for offshore wind.
  The production tax credit has encouraged nearly $20 billion in 
nationwide private investment annually over the last 5 years, while the 
ITC serves as the most fundamental Federal tax incentive for offshore 
wind development.
  As we promote investments that will reduce our dependence on foreign 
oil and serve as a central part in our fight against climate change, 
it's essential to remember the spillover of job creation and 
specialized expertise that will follow.
  In Massachusetts, we've witnessed firsthand the critical economic 
development opportunities of renewable energy projects provided to our 
States. Our region has undergone an economic regeneration with the 
development of Cape Wind, the Nation's first offshore wind fund. From 
the Port of New Bedford, which will serve as the staging area for 
turbine assembly, to the ferry captains who will provide eco-tours of 
the turbines, few communities will not be benefited by this.
  Massachusetts is already recognized as one of the top three States 
for clean energy. We're home to nearly 5,000 individual clean energy 
companies, and nearly 2 percent of all Massachusetts jobs are now in 
this field.
  It's important, as we go forward, that we not let this void occur, 
and we fill it with jobs made in America.

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