Bill in Congress takes hatchet to clean energy projects that boost NC economy | Letter
Bill in Congress takes hatchet to clean energy projects that boost NC economy | Letter
Companies are relying on these credits to plan and manage for the future, which allows them to create good-paying jobs and build more factories and plants in underinvested areas.
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- The author criticizes the House budget proposal for cutting clean energy tax credits.
- These cuts threaten planned investments and job creation, as is happening with Boviet Solar and Toyota.
- Senators should protect these investments and jobs, as they take up the bill.
The federal debt is a mess, and running on an annual deficit makes paying off our debt harder. As a former business owner, I agree that we should pay off our debt and balance our budget, just as leaders in Congress are trying to do. But the devil is in the details.
The recent budget proposal passed by the U.S. House of Representatives takes a hatchet to the clean energy tax credits. Companies are relying on these credits to plan and manage for the future, which allows them to create good-paying jobs and build more factories and plants, such as the Boviet Solar plant that recently opened nearby in Pitt County. Or the recent announcement that Toyota will expand its Randolph County plant, investing $12 billion.
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However, the current budget proposal will eliminate many of the credits that Boviet and Toyota have relied on to bring these investments to our area. Pulling these credits out from under businesses and companies will cause economic uncertainty and could spark divestment in the already underinvested area.
In addition to being a former business owner, I also served as a Fayetteville City Council member for 10 years. I am aware that the government has a responsibility to be fiscally responsible. But taking away the credits that companies have planned on and invested in will only cause economic hardship, especially for areas that are receiving these investments. I hope our Senators will fight for our communities and keep these jobs and investments safe.
Bobby Hurst, Fayetteville