Posted by Sen. Reid's Staff on 4/14/2011 - 4:29 PM
Today, we will pass a historic budget agreement that avoids a government shut down and cuts wasteful spending and excess. It represents the largest discretionary spending cuts since 1982. But it holds the line against House Republicans' proposed cuts to things like kids’ education and cancer research.
However, I’m pleased to announce that this budget agreement also holds the line against the House Republicans' proposal to eliminate a very successful clean energy job creation program that is putting Nevadans back to work.
Clean energy means one thing for Nevada: jobs. We are so fortunate to live in a state with such an abundance of natural resources like wind, solar and geothermal energy. That’s why the Department of Energy Loan Guarantee Program is so important. It’s a public-private partnership that helps companies like Solar Reserve translate these resources into usable energy and jobs. And it already has a major success story in Nevada.
The loan guarantee program is largely responsible for building the brand new clean energy transmission line that will run from White Pine to Clark County. This project will entice clean energy companies to take root in Nevada and it will lead to the creation of thousands of good paying clean jobs for Nevadans.
Currently, there are seven clean energy projects throughout Nevada that stand to benefit from the loan guarantee program. These are projects that will create jobs. That’s why the protection of this program during budget negotiations was one of my top priorities.
We held strong. And now the renewable energy loan guarantees that the Department of Energy plans to extend and close before the end of Fiscal Year 2011 will not be impacted. That’s very good news for Nevada.
It could help generate $40 million in local tax revenue. That’s revenue Nevada’s counties, cities and towns need as they face enormous budget gaps. But most importantly, the program could create more than 2,000 Nevada jobs.