NFU Statement: Senate Passes Financial Rescue Package
For Immediate Release: October 1, 2008
Contact: Liz Friedlander, 202-314-3191WASHINGTON (Oct. 1, 2008) - The U.S. Senate today extended key renewable energy provisions as part of the $700 billion financial and economic rescue package. The package extends the production tax credit (PTC) for wind energy for one year, through Dec. 31, 2009; the biodiesel tax credit through 2009 and the alternative fueling credit, essential for E-85 infrastructure, through 2010.
National Farmers Union President Tom Buis made the following statement:
“Energy produced in the heartland is the future of rural America and vital to its economic growth. It is important this developing industry continue to have the support contained in this legislation to ensure we continue on a path toward energy independence.
“There is a lot of concern about the cost and availability of credit in the countryside right now, particularly for those involved in agriculture. Congress must take decisive and responsible action to address the nation’s credit and economic crisis while protecting the interests of American taxpayers by not rewarding those entities that led us to where we are today. Providing incentives for renewable energy production will help alleviate these concerns and keep rural America’s economy strong.”
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