WASHINGTON (AP) - Carol Browner, the White House energy and climate director, says prompt approval of the economic recovery package is needed to stem a rising tide of job losses in the fledgling wind and solar energy industries.
Browner said Monday in an interview with The Associated Press that a compromise on an economic package in the Senate is ¡°a positive step¡± but that she anticipates some changes during discussions between the House and Senate on a final bill.
¡°The test should be how many jobs will be created,¡° Browner said, adding that job creation will depend on how quickly the government can distribute the money.
The $827 billion economic stimulus legislation backed by President Barack Obama passed a key Senate hurdle late Monday, on a procedural vote, and was expected to be approved by the Senate on Tuesday. After negotiations with the House, it could be on Obama¡¯s desk by week¡¯s end.
Browner dismissed suggestions by some that stimulating renewable energy development may not produce jobs as quickly as is needed. She said companies are ready to hire and revitalize projects that they¡¯ve been forced to put on hold.
¡°We have met with company after company that have had to shelve projects because they couldn¡¯t get access to capital markets,¡° said Browner of the wind and solar energy industries. ¡°In these small companies, access to capital is going to make a big difference.¡°
Browner said proposed loan guarantees for renewable energy companies ¡°will absolutely turn it around¡± and spur the growth of green jobs. Government support on loans as well as investment tax breaks also in the stimulus package ¡°will have measurable and rapid impact,¡° she said.
The Senate package include at least $7 billion in loan guarantees for renewable energy, about $1 billion more than had been approved by the House. It also includes a 30 percent tax break for wind and solar energy investments.
WASHINGTON (AP) - Carol Browner, who is the new White House energy and climate director, says many green jobs in the wind and solar energy industries are in jeopardy without prompt action on the economic recovery package now before Congress.
Browner in an interview Monday with The Associated Press describes a Senate compromise on the economic package as ¡°a positive step.¡° She says the test should be how many jobs can be created and how fast money can begin to flow into the economy.
Browner says the White House has heard from numerous solar and Wind Energy companies that have laid off workers as projects have been canceled because of tight credit markets.The economic package includes $7 billion in loan guarantees for renewable energy. £¨Associated Press Writer £©