Would you like your company to add Renewable Energy Mutual Funds to your 401(K)?
I would. My 401K is probably so depleted by now that renewable energy funds might just be the thing to enable me to retire to Aruba. Just make sure that Madoff-type investors will be hands-off on this one.
The South Denver Chamber of Commerce is proposing to President-elect Obama to include in the upcoming economic stimulus package a federal tax credit ranging from $40 to $400 per employee to businesses that add a renewable energy fund to their employee 401(k) plans. The plan is for small businesses to receive higher per employee tax credit while corporations will receive a smaller amount per employee but a larger overall tax credit.
They said the proposal will generate $30 to $100 billion renewable energy investment and more than 500,000 clean energy jobs.
"Following the initial technology investment, such as putting up a wind farm or a concentrating solar plant, renewable energy has zero fuel costs. That's an attractive business model. Renewable energy assets are a solid investment in a sector that is well positioned to experience rapid growth," says John Brackney, President South Metro Denver Chamber of Commerce.The South Denver Chamber of Commerce will hold a press conference about the proposal on Wednesday, January 14 at 11:30a.