FOR IMMEDIATE RELEASE
Contact: Jeff Gohringer, 202-454-4573 or Jeff_Gohringer@lcv.org
WASHINGTON – Mitt Romney today will make his first visit to Colorado since coming out in favor of letting the Production Tax Credit (PTC) for wind energy expire. This position puts Romney at odds with Republicans, Democrats and local job creators in the wind energy sector, who all recognize the devastating impact Romney’s plan would have on job growth and our economy.
“Mitt Romney claims he’s creating a level playing field by eliminating the crucial wind energy tax credit, but he’s putting his thumb on the scale in favor of Big Oil,” said Pete Maysmith, Colorado Conservation Voters Executive Director.
"Failure to extend the PTC this year could result in over 1,500 jobs lost in Colorado alone," said Sarah Propst, Executive Director of the Interwest Energy Alliance. "It's hard to explain the opposition, because the PTC enjoys extensive bipartisan support, creates jobs, and promotes domestic energy production."
Ending the PTC for wind energy would have a devastating impact in Colorado and across the nation. The American Wind Energy Association has found that in 2011, the wind industry alone supported 4,000-5,000 jobs in the state– many of which would be endangered if the tax credit expiries. The Wind Energy Association has estimated that letting the tax credit expire will cost 37,000 jobs nationwide.
While Romney’s energy agenda would devastate the renewable energy sector, it would be a boon to the oil industry. As the Center for American Progress Action Fund recently documented, under Romney’s tax plan, “The world’s five biggest public oil companies … would keep special tax breaks worth $2.4 billion each year. And by cutting corporate tax rates, the Romney plan could lower the companies’ annual tax bill by another $2.3 billion.”
The Romney campaign announced his plan to let the PTC expire to the Des Moines Register last week. The paper noted that his position puts him at odds with leaders from both parties, including Iowa’s Republican Gov. Terry Branstad and the state’s entire congressional delegation, who all recognize the important economic role the PTC plays. The state’s senior Senator, Republican Charles Grassley, is pushing Romney to answer for his opposition to the tax credit.
The situation is similar in Colorado, where three of the state’s four Republican congressmen support extending the PTC.
In April, the League of Conservation Voters Victory Fund and Priorities USA Action partnered to release a television ad titled “$200 Million Man” to highlight Romney’s pledge to protect Big Oil at the expense of middle class Americans. The ad ran on television and online throughout Colorado.
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Paid for by the League of Conservation Voters, www.lcv.org, and not authorized by any candidate or candidate’s committee.