[Congressional Record (Bound Edition), Volume 160 (2014), Part 3]
[Extensions of Remarks]
[Page 3729]
[From the U.S. Government Publishing Office, www.gpo.gov]


   IN STRONG SUPPORT OF THE PRODUCTION TAX CREDIT AND INVESTMENT TAX 
                                 CREDIT

                                 ______
                                 

                        HON. WILLIAM R. KEATING

                            of massachusetts

                    in the house of representatives

                         Tuesday, March 4, 2014

  Mr. KEATING. Mr. Speaker, I rise today to echo the concerns of 
Americans across the country and call upon my colleagues in Congress to 
extend the Production Tax Credit (PTC) and Investment Tax Credit (ITC). 
Yet again, these essential tax credits have fallen victim to political 
jockeying and were allowed to expire at the end of 2013. If we are 
serious about meeting our renewable energy standards and, importantly, 
putting Americans back to work, then it is time to end this uncertainty 
and bring stability to a growing industry.
   The PTC has encouraged nearly $20 billion in nationwide private 
investment annually over the last 5 years alone, while the ITC serves 
as the most fundamental federal tax incentive for offshore wind farms. 
As we promote investments that will reduce our dependence on foreign 
oil and serve as a central part in our fight against global warming and 
climate change, it is essential to remember the spillover of job 
creation and specialized expertise that will follow.
   Support for the PTC and ITC is bipartisan--and vocal. It is well-
understood that the voids we create with our inaction will not remain 
unfulfilled. They will be filled by foreign companies who will not be 
``Making It in America.'' I find it to be nonsensical that investments 
in renewable energy continue to face an uphill battle.
   At home, we have witnessed firsthand the critical economic 
development opportunities that renewable energy projects provide to 
States. Our region has undergone an economic regeneration with the 
promise of Cape Wind--slated to be the Nation's first offshore wind 
farm. From the Port of New Bedford, which will serve as the staging 
area for assembly, to the ferry captains who will provide eco-tours of 
offshore turbines, no sector of our community is left untouched.
   Massachusetts is consistently recognized as one of the States for 
clean energy, particularly wind energy. 106MW of wind power is produced 
state-wide, powering over 32,000 homes. In my district alone, 23MW of 
wind energy is produced. These impressive figures do not account for 
the thousands more of potential wind power that exists offshore.
   Support for a long-term extension is bipartisan and urgent. I call 
on my colleagues to join me in supporting an extension of these 
important incentives.

                          ____________________