U.S. President Barack Obama on Friday urged Congress to pass a $5 billion expansion of tax credits for clean energy manufacturing.
The stimulus package passed last year included $2.3 billion for these tax cuts, but those funds have been depleted. The program was widely credited for creating jobs and helping the cleantech industry in the U.S. to weather the worst of the economic downturn.
Obama said the new funds would create nearly 40,000 clean energy jobs. The funds are also expected to trigger an additional $12 billion in private sector spending, which could generate another 90,000 jobs.
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