Senate Dems press for lame duck action on renewable power grants

Sens. Maria CantwellMaria Elaine CantwellDemocrats scramble to contain Franken fallout  FCC rolls back media regulations in move that critics say benefits Sinclair Steps Congress can take to save affordable housing in tax reform MORE (D-Wash.), Dianne FeinsteinDianne Emiel FeinsteinFive things to know about the elephant trophies controversy The feds need to be held accountable for role in Russia scandal Lawyer: Kushner is 'the hero' in campaign emails regarding Russia MORE (D-Calif.) and 24 other Democrats are asking for a two-year extension of the program – which sunsets at year’s end – in “any tax package the Senate considers during the current lame-duck session.”

Sen. George LeMieux (R-Fla.) joined 26 Democrats on the letter.

The letter notes the grants have been  “widely credited with maintaining strong growth in the renewable energy sector in 2009 and 2010, despite the severe economic downturn” and helped create jobs.

“Prior to the economic meltdown, clean energy project developers relied on ‘tax equity partnerships’ with investors to take advantage of clean energy tax incentives.  In 2008, the economic meltdown froze the $8 billion tax equity market, jeopardizing billions of dollars in clean energy investment.  The TGP [Treasury Grant Program] proved an effective replacement for these partnerships, supporting around $18.2 billion in clean energy investment to build 8,600 megawatts of renewable energy generation through October 25, 2010,” states the letter to Senate Majority Leader Harry ReidHarry ReidVirginia was a wave election, but without real change, the tide will turn again Top Lobbyists 2017: Grass roots Boehner confronted Reid after criticism from Senate floor MORE (D-Nev.), Minority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellAlabama election has GOP racing against the clock McConnell PAC demands Moore return its money Klobuchar taking over Franken's sexual assault bill MORE (R-Ky.) and the leaders of the Senate Finance Committee.

“With most utilities and developers still unable to utilize existing production and investment tax credits, and our nation’s economic recovery dependent on the creation of new jobs, we believe a two-year extension of the TGP is critical,” adds the letter, which is signed by senators including Ben Nelson (D-Neb.), Kent Conrad (D-N.D.), John KerryJohn Forbes KerryTrump's dangerous Guantánamo fixation will fuel fire for terrorists Tech beefs up lobbying amid Russia scrutiny Overnight Tech: Senate Dems want FCC chief recused from Sinclair merger | Tech rallies on Capitol Hill for DACA | Facebook beefs up lobbying ranks MORE (D-Mass.), Debbie StabenowDeborah (Debbie) Ann StabenowRep. Upton won't seek Michigan Senate seat, focuses on reelection The feds need to return to the original intent of foreign investment review GOP campaign committees call on Democrats to return Franken donations MORE (D-Mich.) and others.

“We believe that any tax package should be designed to stimulate economic growth and job creation, and should include an extension of the Treasury Grant Program with an appropriate offset,” the letter states.