United States Senator Sherrod Brown and 17 other Senators have asked Congress to renew and extend the "48(C)" Clean Energy Manufacturing Tax Credit now that the current program has run out of funds. In a letter submitted to U.S. Senate leadership, the group asked that the tax credit be extended with an additional $5 billion to pay for projects that meet the program's qualifications. 48(C) provides a 30 percent tax credit for domestic companies investing in new, expanded, or reequipped clean energy manufacturing projects - including wind, solar, hybrids, and carbon capture and sequestration.
"The 48C program is critical to helping manufacturers create jobs and transition to a clean energy economy,” Brown said. “An expanded 48C program would provide strong incentives for the private sector to create good-paying jobs and innovative clean technologies while we bolster domestic manufacturing capacity.”
48(C) was first introduced as part of the American Recovery and Reinvestment Act.