USW Supports ‘SEAM Act’ to Create Green Manufacturing Jobs in U.S.
PR Newswire – PITTSBURGH, May 6–The United Steelworkers (USW) today praised Senator Sherrod Brown (D-OH) for introducing the "Security in Energy and Manufacturing Act of 2010" — the SEAM Act. Senator Brown was joined by Senators Schumer, Merkley, Casey and Hagan in sponsoring this bill aimed at helping to grow the nation's green manufacturing supply chain.
Senator Brown's SEAM Act is a companion to Congressman Phil Hare's (D-IL) bill, which was introduced in the U.S. House of Representatives on April 16 and supported by the USW. Brown's bill provides for greater opportunity to create good green manufacturing jobs by making available $5 billion in tax credits or grants to companies manufacturing goods and components in the United States that are used in alternative energy projects, such as wind farms, nuclear power plants and solar generation plants.
The SEAM Act builds upon the leadership provided by President Obama in establishing the energy manufacturing tax credit (Section 48c of the IRS) in the American Recovery and Reinvestment Act to encourage a green domestic manufacturing supply chain for alternative energy projects as the nation transitions to energy independence. Section 48c provides for a 30% tax credit for investments in new, expanded or re-equipped green energy manufacturing facilities.
The USW strongly supported Section 48c in the Recovery Act, which was so popular that the initial $2.3 billion in credit ran out quickly and many worthy projects had to be put aside awaiting additional credit authority.
