Beverly Hills 1/9/2010 2:21:55 AM
News / Business

$5 Billion Requested for Creation of Green Jobs

Financial World News Update by Equities Magazine

The Labor Department report that revealed the loss of 85,000 jobs in December has many people worried, and while White House officials urge American not to take any monthly report too seriously, they are taking action. President Barack Obama is beginning a proposal for another $5 billion to help bolster the creation of jobs.

The President arrange an event to announce $2.3 billion in Congressionally approved tax credits meant to go toward creating jobs in the energy sector. The President plans to focus specifically on green energy, which will dually manufacture more jobs and benefit the environment.

"Building a robust clean energy sector is how we will create the jobs of the future," Obama said in regards to the Recovery Act awards being announced. The plan calls for the granting of tax credits designed to encourage the private sector to invest a ballpark $5 billion in renewable and clean energy technology.

The projects being awarded the credit number 183, dedicated to developing accessible solar and wind technologies.

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