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Wed April 28, 2010
Congressman Touts SEAM Act
Carthage, IL – Congressman Phil Hare (D-IL) said a proposed new bill is designed to create more jobs in the green energy industry.
The measure is called the Security in Energy and Manufacturing Act , or SEAM. Hare said it will provide a 30% credit to companies that manufacture alternative energy equipment such as wind turbines and solar panels.
"If you're willing to gamble on this, if you will, manufacturing-wise, we're willing to help you out to the tune of 30%," Hare said during an appearance in Carthage. "This, I believe, could literally put hundreds of thousands of workers back to work that are unemployed right now."
Hare said the nation needs to think outside the box to create manufacturing jobs and keep them in the US. He said the SEAM Act makes sense.
"Everybody wins in it because our manufacturers win, our workforce wins, and alternative energy wins," said Hare.
Hare said Galesburg is his impetus for supporting the bill because the town has a number of empty factory buildings that could be used by green energy manufacturers.
He said a similar bill in the Senate provides an even larger tax credit.
He said the SEAM Act will be funded with $5 billion from the second round of stimulus money. He said the tax credit will continue for as long as the money is available. Congress will then need to assess the program in order to decide whether to continue it.