GOVERNORS URGE EXPANSION OF SECTION 48C TAX CREDIT
A group of 19 governors this week sent a letter to President Barack Obama urging expansion of the Section 48C Advanced Energy Manufacturing Tax Credit that was created by the American Recovery and Reinvestment Act. In January, $2.3 billion was awarded under the program to recipients in 43 states to support manufacturing energy projects. The governors report that these federal resources have leveraged more than $5.4 billion in private investment. In their letter, the governors discuss the success of the tax credit and describe the economic benefits that would come with an expansion.