White House endorses clean energy tax credit
WASHINGTON, D.C. - Vice President Joe Biden proposed a $5 billion expansion of a clean energy tax credit as the White House unveiled the latest part of its push to tackle double-digit U.S. unemployment.
Senior Obama administration officials said they were confident of getting quick congressional support for the plan, which they expect to generate $15 billion or more in private investment and create tens of thousands of new manufacturing jobs.
The announcement came alongside a White House report on the vital role manufacturing plays in the U.S. economy, as Biden hosted chief executives to unveil a new framework from President Barack Obama to boost U.S. factories.
The officials said in a telephone conference that ensuring foreign exchange values were set in markets was part of the wider discussion on helping U.S. manufacturers lift exports, but were not a specific item in Obama's current focus. U.S. manufactures complain China artificially holds the value of its yuan currency down to give its exports a competitive edge.
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Nova Scotia's last paper mill seeks new discount electricity rate
HALIFAX - Nova Scotia Power is scheduled to appear before government regulators Tuesday morning seeking approval for a unique discount rate for its largest customer.
Under the four-year plan, Nova Scotia Power would control the supply of electricity to Port Hawkesbury Paper, with the right to direct the company to increase or reduce daily consumption throughout the year.
The rate proposal is supported by the mill, which says it needs to lower its power bill to keep its operation viable.
The rate went into effect on Jan. 1 on a temporary basis, pending the outcome of a hearing this week before the Nova…
