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Senate Finance Committee Chairman Max Baucus (D-Mont.) reports that the House of Representatives has approved the Emergency Economic Stabilization Act of 2008 as revised with a one-year extension of the wind energy production tax credit (PTC).

"We salute Members of Congress in both parties who fought under difficult conditions to keep the renewable energy production tax credit and small turbine investment tax credit on the agenda until the very end, and then pushed them across the finish line," says Greg Wetstone, senior director of governmental and public affairs at the American Wind Energy Association on passage of the act.

"These tax credits are essential to the continued growth of wind energy, to the economic and energy security of the United States, and to a successful beginning in the fight against global warming," he adds. "We look forward to working next year with a new Congress and Administration to fashion a serious long-term clean energy policy that increases domestic energy, increases our reliance on clean renewable energy, and creates jobs for Americans."

The legislation now moves to the White House for signature into law.

SOURCE: Office of Senator Max Baucus


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