On Obama's Congressional "To-Do" list: Green-energy tax credits

AP Photo/Pablo Martinez Monsivais

(CBS News) President Obama stopped in Newton, Iowa to campaign for a renewable energy tax credit set to expire at the end of the year. The tax credits are part of the president's "To-Do" list for Congress.

Speaking at TPI Composites, which manufactures wind blades for wind turbines and employs 700 people, the president told the crowd that extending the tax credit is "a big deal."

"This industry -- thanks in large part to some very important tax credits -- has now taken off," the president told the crowd largely made up of TPI workers.

The president noted the importance of the tax credit to Iowa. "The state of Iowa now gets nearly 20 percent of all your electricity from wind. Overall, America now has enough wind capacity to power 10 million homes," the president said.

He tied the tax credit, which was first passed in 2005, to jobs. "As you know, it's an industry that's putting people to work," he told the audience. "You know that firsthand. There are more wind power jobs than in any other state. That's a big deal."

The issue isn't necessarily partisan. Republican lawmakers, including members of the Iowa delegation -- Senator Charles Grassley and Rep. Steve King -- support an extension of the tax credits.

The Wind Energy Association, which is pushing for the tax credit to be passed immediately, says an extension would retain 75,000 jobs.

The president told the crowd that "progress" is being made in renewable energy.

However, he said "that progress is in jeopardy. If Congress doesn't act, those tax credits I mentioned - the ones that helped to build up the wind industry and bring it here to Newton - will expire. If Congress doesn't act, companies like this one will take a hit. Jobs will be lost."

After the campaign speech, the president hosted a Twitter chat under the hashtag #WHchat. He started the conversation by tweeting, "this is barack - let's get this started! -bo." The "bo" in lower-case indicates the president himself is tweeting.

In response to a tweet by @asturtz about domestic energy, the president tweeted: "@asturtz all of the above energy strategy; increase dom. oil & gas. increase energy efficiency. 2x clean energy. 2x car fuel eff. -bo."

[VincentLawrence]

With all the hype about GREEN ENERGY, with out the Green Energy Credit
or without some kind of Subsidy it stops dead in it's tracts.
All the So called Green energy costs more to produce that it's Value.
Don't bank on a Green Energy Job Long term.
There is one hot air machine that seems to just go and go blowing smoke and spreading b.s. all over it's called an Obama.

[endurorob_5]

Obama keeps preaching an all the above aproach to energy but his actions only support "green" energy.

[sjc_1]

We were advancing in wind when Reagan took away all the assistance, then we fell behind countries like Denmark that now leads the world.

China gives $30 billion per year to the solar industry to dominate word markets, no one can compete with that. Helping industries to provided needed future products and services is just smart.

[gep1955]

just once i'd like to see CBS fact check this guy to see if he's lying again. business likes tax credits a little but we like customers a whole lot more. tough to find when half the country is living on government assistance.

[sjc_1]

If business capitalism worked, there would be no need for food stamps, people would be working, supporting their families and paying taxes to reduce the deficits.

[ohdecuda]

Obama has accomplished a great deal while President even with a vow by the Republican Party leaders to do everything possible not to allow him to do anything.

[TJphoto]

His "To do list" has been blocked by John Boehner, including the one suggested by Mitt. To give tax credits to those who keep jobs here. Maybe if Mitt wins it might pass this time. What a surprise, how unusual............shocking!!!!

[marychgo]

China is making huge investments in clean energy. Europe's making significant investments. Should the U.S. simply back away and allow other countries to dominate one of the major growth industries of the 21st century? Does that sound like smart economics? The GOP's Charlie Grassley and Peter King of Iowa don't think so....

[sjc_1]

If you are a devout wrong winger, you say government has no business in business and let them succeed or fail on their own. All the while, China gives $30 billion per year to clean energy, they give them factories and equipment so that no other country can compete. Talk ideology all you want while China eats our lunch.

[Burt519]

So just so I am clear in this article... Obama admits tax credits to the wind energy industry is the reason it has taken off and created so many jobs and if these tax credits were to expire many people would lose their jobs... Yet he campaigns around the nation saying the tax credits for Wall Street and the oil field need to be taken away because it is time fro them to pay their "fair share"? Tax credits only to the industries he supports doesn't seem to fit his "fair" message he has been trying to push for the last 4 years. Am I missing something here?

[conleygm]

Democrat Barack Obama doesn't understand the environment issues anymore then he understands what it is like to have student loan debts. Obama didn't truthfully have student loan debts. Obama hasn't had any life experience working in the environment moment neither.

Expert teacher Lord Christopher Monckton on the environment moment and the environment will be speaking, Monday May 28, 2012 in Surprise Arizona - Margaret Thatcher adviser talks Obama eligibility http://www.wnd.com/2012/05/thatcher-adviser-talks-about-obama-eligibility/.

It is about Al Gore, one of Obama's green experts - A Tale of Two Houses - Urban Legends http://urbanlegends.about.com/library/bl_tale_two_houses.htm.

September 26th, 2011, "Would you please raise my taxes?", Obama states him nor Michelle had student loan debts, others paid for their education costs. The Obama's tax returns 2000-2010 shows no student loan claims. (2:32) into this video At LinkedIn Town Hall, September 26th, 2011, Obama "I went to school on scholarships and Michelle's father paid for her education." http://www.therightscoop.com/question-at-obama-town-hall-would-you-please-raise-my-taxes/.

(00:39:07) Full length video: - Town Hall with President Obama http://blog.linkedin.com/2011/09/26/obama-town-hall-live/.

Obama/Biden Election 2008, Michelle Obama claims her and Barack have empathy, her and Barack took out student loans and just paid them off 3 years ago - Michelle Obama's speech Delaware part3 http://youtu.be/QT8pdbJB8bk.

Barack Obama, answered at MTV - Obama, "Look, this I can relate to. I went to college and law school having to take out student loans, Michelle took out student loans." - Barack Obama Answers Your Questions http://www.mtv.com/news/articles/1598409/barack-obama-answers-your-questions.jhtml TXE Obamas had no student loan debts, as stated by Barack Obama in 2011.