Breaking News: Obama introduces Clean Tech Tax Breaks

Clean Tech seems to be taking over the world by a storm. Today, President Barack Obama announced that his administration will be giving out $2.3 billion in tax credits to companies in the private sector working on manufacturing clean tech products and clean energy across the country. Wisconsin based 7 companies will receive $21 million in tax breaks. The President aims to increase jobs in the country by promoting the Clean Energy initiative.

CNBC quotes President Obama as saying that, “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…the initiative is good for middle-class families. It is good for our security. It is good for our planet.” Climate change is one of the main goals of Obama’s regime in the White House. The tax breaks have been given to 183 projects across the country. These projects focus on green initiatives – solar energy, wind power, clean tech etc.

Energy star the U.S. Environmental Protection Agency also offers Tax Credit to Home owners who have bought Clean tech products. Tax Credit of 30% is offered on cost of upto $1,500. This Tax Break is available till December 31, 2010.

Written for and published on the Amvona Blog

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