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Applied Materials

President Obama Lends Support for Extending MTC Program

On Friday, President Obama called on Congress to extend the popular clean energy manufacturing tax credit (MTC) [Section 48C] program by approving an additional $5 billion in investment. This would more than double the $2.3 billion that Congress authorized last year as part of the American Recovery and Reinvestment Act (ARRA). An investment of this size would create upwards of 40,000 jobs and generate more than $12 billion in private sector investment, which would lead to an additional 90,000 jobs, according to the president.