Washington, D.C. – In the wake of President Barack Obama’s speech on Tuesday laying out his action plan to address the harmful effects of climate change, the Center for American Progress released a report today showing how clean energy manufacturing hubs can flight climate change, increase U.S. competitiveness, and create jobs.
Throughout our country’s history, a strong manufacturing industry has helped propel the United States to the cutting edge of global competitiveness. Recent years, however, have seen a dramatic decline in domestic manufacturing.
Policies that currently bolster the domestic production of clean energy goods can help renew the manufacturing industry while creating well-paying jobs and fostering a low-carbon economy that is “made in America.” Because domestic and international demand for clean energy goods is rising at such a rapid rate, focusing on clean energy manufacturing instead of doubling down on the industries of yesterday will give the United States an advantage in a growing market.”
“Supporting domestic clean energy manufacturing with strong, forward-looking policies will revitalize the U.S. economy, fight climate change, and help create good, local jobs,” said Kate Gordon, Senior Fellow at the Center for American Progress. “If the United States is going to compete in the 21st century global marketplace, it must make smart investments in competitive clean energy industries and send a clear signal that America is an attractive place to do business.”
The report offers the following recommendations for Congress:
- Authorize $2 billion in funding for the National Network for Manufacturing Innovation and should focus several of the program’s Institutes for Manufacturing Innovation on clean energy projects.
- Reauthorize the successful advanced manufacturing tax credit, which provides a 30 percent investment tax credit in manufacturing facilities for clean energy products, for a 5-year to 10-year period with a clear sunset path and totaling $5 billion in new funding.
- Enact a progressive carbon tax that generates demand for clean energy products while fighting climate change.
Read the report: Clean Energy Manufacturing Fights Climate Change, Increases U.S. Competitiveness, and Creates Jobs by Adam James and Kate Gordon
To speak with a CAP expert, please contact Anne Shoup at [email protected] or 202.481.7146.
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