We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Many of those are manufacturing jobs, something not lost on Sen. Mark Udall.
“Vestas alone could layoff more than 80 percent of its 1,800 workers in Colorado if the PTC is not extended,” Udall told KUNC. “Every one of those jobs is an excellent job with benefits.”
Senators failed to garner the 60 votes needed to amend the extension into the broader highway bill Tuesday.
They also rejected a competing Republican-measure sponsored by South Carolina Sen. Jim DeMint to end all energy subsidies.
“If we let the market work, we’re going to have wind, we’re going to have solar, but we’re going to have it in a way that doesn’t waste the money of hard-working taxpayers,” DeMint said during floor debate on his amendment.
Udall and fellow Colorado Democrat Michael Bennet are pledging to find a new legislative vehicle for the tax credit extension as soon as possible.
“Standing on its own, this tax credit has bipartisan support, and Colorado companies are counting on us to get it across the finish line,” Bennet said in a statement.