AS THE SENATE PREPARES ITS BUDGET PROPOSAL:SCHUMER VOWS TO FIGHT HOUSE CUTS THAT THREATEN TAYLOR BIOMASS PLANT; GROUND-BREAKING PROJECT ALREADY UNDERWAY, JOBS AND INVESTMENTS MUST BE PROTECTED
Republican Budget Proposal Would Slash Promised Funding and Stop Taylor Biomass Renewable Energy Construction in its Tracks; Schumer Optimistic Senate Wont Pass Reckless Cuts
Schumer Paved Way for $100 Million in Federal Loan Guarantee; New Facility Already Putting Over 100 People to Work, Set to Create 300-400 Jobs and Spur Economic Growth in Hudson Valley
Schumer: Taylor Is a Small Business Owner, and Project Has Created Next Generation of American Jobs in New York; Reck
Today, U.S. Senator Charles E. Schumer announced that he will oppose House Republicans' attempts to end renewable energy project loan guarantees, which would pose a major threat to the jobcreating Taylor Biomass Energy project. The Republican budget proposal that passed the House last week would ultimately kill funding for the Taylor Biomass Energy project underway in Montgomery, NY and cost hundreds of current jobs, and more than 400 future jobs.
In December, Schumer joined Jim Taylor of Taylor Biomass as he broke ground for the construction of this renewable energy facility, which will convert municipal waste into energy. This facility would be the first of its kind in the nation, and was all made possible by the Department of Energy Loan Guarantee program, from which Taylor Biomass is set to receive $100 million within the next few months. The Republican budget proposal, however, would rescind the funds from the Department of Energy that Taylor Biomass is now relying on to finance this project. If the Republican budget were to become law, Taylor Biomass's loan guarantee would be revoked, and the years of preparatory work, millions of dollars in initial investments and over 400 jobs would be all be lost. Schumer will staunchly oppose these cuts in the Senate and is optimistic that they will be preserved in the final budget.
"Taylor Biomass is a jobcreating pioneer in the field of renewable energy, converting municipal waste into energy while minimizing pollution," said Schumer. "But the House Republican plan could stop all of this progress in it tracks, destroying hundreds of private sector jobs, trashing years of time and financial investments, and eliminating the chance for Hudson Valley to be at the center of the renewable energy industry. This is a project supported by both parties on the local level, and I will fight to save these loan guarantees, so that Taylor can fulfill its promise as a job creator for the region. While it is clear we must eliminate wasteful spending, we need to do it with a scalpel, not a meat clever; it is reckless to slash such a critical investment in our future and I am optimistic that we will save these loan guarantees in the Senate."
Over the past two years, Senator Schumer and Congressman Hinchey have fought hard for the U.S. Department of Energy to award Taylor Biomass a $100 million loan guarantee that would fund the construction of a stateoftheart renewable energy facility in the Hudson Valley. Loan guarantees are used by the federal government to support job growth while minimizing costs for the taxpayer. Under this program, companies like Taylor Biomass go through an intensive vetting process based on the safety of the investment, community interest and initial private investment. After Schumer and Hinchey's urging, Taylor Biomass received word that they would receive this loan, thus allowing construction to move forward.
The bill that passed the House last week to continue funding the federal government would rescind all "unobligated" funds from the Department of Energy's clean energy loan guarantee program, with the exception of funds for nuclear energy projects. Funding has yet to be officially obligated for the Taylor Biomass project, making it vulnerable to these funding cuts.
Taylor Biomass Energy is part of Taylor Recycling, a waste recovery company headquartered in Montgomery. TBE houses one of the most innovative construction and demolition recycling operations in the world. Over 95% of the waste received at this facility is converted into valuable and reusable endproducts. Taylor pioneered a process called gasification to convert solid waste into a renewable energy source.
According to Taylor, the gasification process uses very high temperatures to convert biomass materials, including those commonly found in solid waste, into a highquality gas known as "syngas." The materials are not combusted, fully avoiding the potential pollutants associated with the traditional burning method for converting waste into an alternative energy source. Syngas can then be used to produce energy through gas turbines or it can be converted into biofuels. According to Taylor, the company's current business model will reduce our dependence on foreign energy by 7.4 million gallons of oil per year.
The Taylor project is directly responsible for currently employing construction workers, engineers, electricians, equipment suppliers, environmental consultants and lawyers across the Hudson Valley. Taylor was planning to enter Phase II of the construction of the new facility on March 1 st, which would have resulted in hundreds of employees being put to work after being unemployed during the economic downturn. With the uncertainty Taylor is facing due the job destruction tactics of the House Republicans, Taylor is unsure of when construction will start, resulting in these workers continuing to be unemployed.
Schumer makes clear that the House Republican budget proposal would rescind the funds from the Department of Energy that Taylor Biomass is now relying on to finance their unique renewable energy project. If the House Republican budget were to pass in the final budget, Taylor Biomass's loan guarantee would be revoked, and the years of preparatory work, millions of dollars in initial investments and over 400 jobs would be all be lost. Schumer vows to fight for the loan guarantees, and is optimistic that Senate will not pass this reckless, jobkilling plan.