Obama, Reid push energy research 
July 12, 2010 by Haley Etchison
President highlights tax credits for green companies in campaign speech at UNLV
President Barack Obama promoted a plan to extend tax credits for companies working in renewable energy industries, in a campaign speech for Senate Majority Leader Harry Reid, Friday at UNLV.
He addressed an invitation-only crowd of more than 500, praising Reid’s leadership through the economic recession and discussing renewable energy production as a source of economic recovery.
Reid applauded green energy research efforts at UNLV in his introductory speech.
“We’re going to lead in renewable energy at this great university,” he said.
Reid told the audience that new energy jobs would continue to be a driver of economic upturn in Nevada.
“Have we done enough?” he asked. “Of course not. But we promised there would be some jobs in renewable energy and there are thousands of people working in Nevada because we kept that promise.”
He predicted that much of the sustainable energy development progress for Nevada and the U.S. will come from UNLV.
“This university, within the foreseeable future, is going to be the leader in renewable energy – especially solar energy,” Reid said.
Upon ascending the podium, Obama acknowledged the presence of U.S. Representative Dina Titus, Nevada Secretary of State Ross Miller and UNLV President Neal Smatresk and his family, whom, Obama, said, are “doing a great job on behalf of UNLV.”
The president applauded the work Reid has done for the nation, saying, “An economy that was shrinking is now growing.”
But he acknowledged that Nevada, at the bottom of the recovery curve, still struggles.
“The unemployment rate is still unacceptably high, especially in some states like Nevada,” he said.
Obama pointed out what that can mean for students.
“Maybe you’re a student at UNLV and you’re wondering if you’re going to have a job when you graduate or if you’re going to be able to pay off your student loans or if you’re going to be able to start your career off on the right foot,” he said.
He asserted that private sector growth is the key to a secure economic future and the answer to students’ worries.
Obama claimed that Reid has been integral in advocating for other important student issues.
With the senator, he said, “we freed up tens of billions of dollars that are now going directly to students, which means more than a million students have access to financial aid that they didn’t have before.”
But funding individuals’ education is just the beginning for institutions like UNLV, where clean energy is a major focus of research.
“Our role in government, especially in difficult times like these, is to break down barriers that get in the way of innovation,” Obama said, going on to emphasize the role of scientific growth in economic growth.
Part of Obama’s plan to break down barriers calls on Congress to extend a tax credit for businesses working on green energy.
The credit pays for 30 percent of renewable energy projects when companies put up 70 percent of the necessary capital.
The president cited makers of electric vehicles as an example of the kinds of companies that would benefit from this extension. He said that, with the help of the tax credit, use of electric cars will increase from 2 percent of automotive use to 40 percent over the next five years.
And that transition, he said, will produce thousands of new jobs.
“We’re betting on the ingenuity and talent of American businesses,” Obama said.
He said he would urge legislators to invest $5 billion more into the existing program for clean energy tax credits.
The president asserted that 90,000 jobs would be created if this funding is approved.
“I am absolutely confident,” Obama said, “that if we keep on moving forward, if we refuse to move backward…brighter days are going to come.”
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No unemployment? Thank the republicans! For the rest of you -When the economy stalls again – you can thank the republicans too. The republican’s weren’t worried about the deficit when that big insurance company and their friends the Wall Street execs were giving themselves bonuses with taxpayer money!!! Next election – let Congress feel the sting of the unemployment lines!!! No more raping and pillaging the middle class!!! – How many years have you paid taxes? 30? 40? Your government bails out bankers and Wall Street execs using your tax dollars – but unemployment is allowed to expire? What happened to “by the people” or “for the people”? Or are the big campaign contributors the only “people” who count to congress? They are playing games AGAIN FOR THE THIRD TIME while you are wondering how to feed your kids? Figure it out! Malfeasance – Failure of a public official to perform their duties!!! Next Election MAKE YOURSELF MATTER BY VOTING!!! 10% unemployment carries 10% of the vote! Use it!! Fire them all next election or recall every Congress member NOW for Malfeasance – Failure of a public official to perform their duties!!! Next Election – Lets get people elected who actually represent all the People- this current congress represents only special interest groups!
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This push is exactly what we need, we wont see energy independence or innovation on the scale we need until the government steps in.
Alex,
Apparently in your world the economy is flying hire right now. For the rest of us, it already is stalling. I don’t know how you can blame Republicans on the big bonuses being given at AIG (the big insurance company) or to any of the banks as those bonuses were approved by Tim Geitner (Obama’s appointee) and Obama. So those are Democrat problems, not Republican problems. By the way, Obama and Dems receive a lot more money from Wall Street than the Reps.
Unemployment benefits are now at around two years. Don’t you think that’s a little long to be out of work? Also the Dems refused to pay for the unemployment benefits and so the Reps said No. The Reps then tried to push thier bill which would actual pay for the unemployment benefits so the bill wouldn’t increase the deficit and Harry Reid said No.
Statement from Americans for Limited Government:
“The American people want an end to government picking winners and losers in the energy sector with subsidies to politically-favored industries, and instead would prefer lawmakers to lift restrictions on producing nuclear, oil, coal, and natural gas resources that provide the foundation for meeting the nation’s power needs.”
Really??? This is what the American people want? I’m an American person, and I’d like to see energy innovation that helps reduce our dependence on dirty resources like oil and coal. I guess the devastation caused by the oil spill in the gulf STILL isn’t enough to make you understand. Despite the fact that it is choking small businesses that depend on tourism and clean fishing waters. Hello? You support small businesses right???? The fact is, not really, you people really don’t give a rats ASS about anyone but yourselves. Maybe when BP dumps a pile of oil soaked shit on your SUV you’ll wake up.
Don’t overlook the current (and future) R&D Tax Credit. We built Titan Armor – a LOW-COST, easy to use software app designed for researchers and production managers to track their R&D (i.e. “innovation”) activities. Realize real value – today. You can get more information (and pricing) at http://www.titanarmor.com.
I’ve said that least 4793641 times. The problem this like that is they are just too compilcated for the average bird, if you know what I mean
Everyone loves what you guys are usually up too. This kind of clever work and reporting! Keep up the amazing works guys I’ve added you guys to my own blogroll.