Obama Proposes Clean Energy Tax Cut

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Uploaded on February 11, 2011 by newsydotcom

BY CHELSEA MYERS




You're watching multisource science video news analysis from Newsy.



A greener corporate America. That’s what President Obama says he wants. Now -- he’s saying -- how to get it. And it involves -- an interesting -- loophole.


PRES. BARRACK OBAMA: “I want to provide a tax cut for clean-energy manufacturing right here in America because that’s how we’ll lead the world in this growing industry.” (The White House)

MSNBC says the most popular element of the President’s aggressive green push is that it will lead to new employment opportunities and a healthier workforce. The report shows EPA supporters say...

“Curbing greenhouse gases will actually create jobs in clean energy industries. And they note the agency is simply following statutes aimed at protecting people's health - something they say has strong support and is necessary for a healthy economy.
‘Simply put, you can't work if you can't breathe,’"

One of the chief beneficiaries of the clean energy push is the nuclear energy industry -- specifically -- Progress Energy, which recently merged with Duke Energy. Mr. Obama’s budget calls for $54 billion dollar investment in nuclear power. William Johnson, Progress Energy’s chief executive tells Fox News....

“We took great heart in the president’s message in the state of the union, which was a clean energy standard where we’re going to put all the energy sources that are clean on the same basis, so we are glad to be back at the table at that level.”

In 2009, national nuclear energy use was 9%. Johnson hopes to raise that to 20-30% in the next two years. He says Americans will see the necessity for nuclear power expansion from the emergence of new technologies like electric cars that will need a capable option for recharging.



However, CNS reports some politicians, like Dem. Senator Jeff Bingaman, remain unconvinced that all the exceptions for what is considered clean energy is necessarily clean.

“Obama expanded on previous efforts that would have focused exclusively on renewable sources like wind and solar by adding nonrenewable sources like nuclear, natural gas and ‘clean coal.’”

But even with the additions, some Republicansand Democrats are worried that clean energy pressures are causing more damage than good. Fox Business interviewed Steve Milloy, founder of JunkScience.com on the issue.

“I think the EPA largely accomplished its mission in the late 1980s certainly by the early 1990s and now we’re into an era of regulatory overkill. Right now the EPA is regulating green house gases and killing jobs at the same time.”

And a writer for the Washington Examiner says Mr. Obama’s got it in for “big oil.”

“He calls it a special subsidy that oil and gas drilling is treated like forestry, farming, and mining, while his proposal - simply discriminating against oil and gas - would be actual "special treatment."

So what do you think? Are the President’s clean energy regulations overkill or under par?



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Tags:
Clean Energy, Tax Cut, House Republicans, Environment Protections, Proposed Cuts, Corporate Tax, Loophole, Business, Clean Energy Policies, Environment, Greenhouse Gases, Nuclear Energy, Renewable Sources, Multisource, Video News, Environment News, News & Events
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