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USW lauds bill for tax credits to firms making alternative energy components

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The United Steelworkers (USW) today lauded the introduction by U.S. Rep. Phil Hare, D-Ill., of the “Security in Energy and Manufacturing Act (SEAM Act) of 2010.”

That legislation aims to provide greater opportunity to create good clean and green manufacturing jobs in the U.S., by making available $5 billion in tax credits or grants to companies manufacturing goods and components used in alternative energy projects, such as wind farms, nuclear power plants, and solar generation plants, according to a statement released by the USW.

“The SEAM Act builds upon the leadership provided by President Obama in establishing the advanced energy manufacturing tax credit (Section 48c of the IRS) in the American Recovery and Reinvestment Act to encourage a clean and green domestic manufacturing supply chain for alternative energy projects as the nation transitions to energy independence,” the statement said. “Section 48c provides for a 30-percent tax credit for investments in new, expanded or re-equipped clean energy manufacturing.”

The USW strongly supported Section 48c in the Recovery Act, which was so popular that the initial $2.3 billion in credit ran out quickly and many worthy projects had to be put aside awaiting additional credit authority, the statement said.

“We welcome Congressman Hare’s efforts to expand and improve upon this advanced energy manufacturing tax incentive by providing for an additional $5 billion in credit or grants to expand and create clean and green manufacturing capacity and jobs right here in the United States,” USW International President Leo Gerard said. “A typical wind turbine made by Steelworkers in Pennsylvania includes 250 tons of steel, three tons of copper, 250 yards of concrete, titanium components for rotator hubs, gears and gear boxes, bearings and many more components that Steelworkers make here.”

Gerard also noted that Steelworkers make many other alternative and efficient energy products, such as glass for solar panels, goods made with recycled paper and energy efficient air conditioning products.

The SEAM Act also creates a preference for companies manufacturing goods (e.g. a wind turbine) and/or their components (e.g., wind blades) over simple assembly to ensure that the most manufacturing jobs and technology will be created in the U.S.

Gerard added, “These are the kinds of good-paying, permanent manufacturing jobs we need if we are to succeed in reinvigorating our manufacturing base so it can become a key player in the transition to a clean and green energy future.”


Posted 4/16/2010




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