by Reuters
Reuters
U.S. President Barack Obama unveiled a $2.3 billion tax credit on
Friday to boost jobs by promoting clean energy, as new data showed the
country's unemployment rate remained stuck in the double digits.
Obama said the credit, from funds earmarked under a $787 billion
stimulus package he signed last February, would create 17,000 U.S.
jobs and be matched by an additional $5 billion in private capital.
"Building a robust clean energy sector is how we will create the jobs
of the future, jobs that pay well and can't be outsourced," Obama
said.
"This initiative is good for middle-class families. It is good for our
security. It is good for our planet," he said.
High unemployment is one of Obama's most pressing domestic challenges
and a monthly payroll report released on Friday served as a reminder
that labor market conditions remain grim. U.S. unemployment was
unchanged at 10 percent in December, while businesses unexpectedly
shed 85,000 jobs.
"The jobs numbers that were released by the Labor Department this
morning are a reminder that the road to recovery is never straight,"
Obama said.
Climate change, alongside health care and financial regulation reform,
is a core goal of Obama's White House.
All require support from Congress, where his Democratic Party may
suffer a setback in November congressional elections unless he can
start to push the jobless figures down.
The tax credits have been granted to 183 projects across the country
involved in technologies that include solar, wind, and other
initiatives to improve energy efficiency.
On top of the employment resulting directly from the tax credit, Obama
said it would lead to "tens of thousands" of additional new jobs.
The White House says the stimulus money has helped prevent the deepest
U.S. recession in 70 years from getting much worse, and has renewed
its push to boost job creation, which many analysts say warrants more
public spending.
Obama held a jobs summit and met with bankers last month to boost
lending to small businesses in the hope that would encourage them to
hire more workers.
In addition, the House of Representatives has approved an additional
$155 billion jobs package to boost hiring, although the Senate has yet
to take up its version of the legislation and will first tackle
Obama's signature health care reforms.
"We have to continue to explore every avenue to accelerate the return
to hiring," he said.
Companies that will benefit from the clean energy tax credit include
Itron, based in Liberty Lake, Wash.; PPG Industries, based in
Pittsburgh; and TPI Composites, based in Scottsdale, Ariz.
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