White House endorses clean energy tax credit

subscribe

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.

Related News

alberta-faces-challenges-with-solar-energy

Alberta Faces Challenges with Solar Energy Expansion

ALBERTA - Alberta's push towards expanding solar energy is encountering significant financial and environmental hurdles. The province's ambitious plans to boost solar power generation have been met with both enthusiasm and skepticism as stakeholders grapple with the complexities of integrating large-scale solar projects into the existing energy framework.

The Alberta government has been actively promoting solar energy as part of its strategy to diversify the energy mix and reduce greenhouse gas emissions. Recent developments have highlighted the potential of solar power to contribute to Alberta's clean energy goals. However, the path forward is fraught with challenges related to costs, environmental…

READ MORE
california-gets-500m-to-upgrade-power-grid

California Gets $500M to Upgrade Power Grid

READ MORE

zibelman

Energy chief says electricity would continue uninterrupted if coal phased out within 30 years

READ MORE

bitcoin electricity

The Great Debate About Bitcoin's Huge Appetite For Electricity Determining Its Future

READ MORE

china power shortage

China power cuts: What is causing the country's blackouts?

READ MORE