By Rebecca Feldhaus/KPR
Louisville, KY – During a visit to Louisville today Vice President Joe Biden said tax credits under the massive federal stimulus program are providing ``seed money'' for private investments that are creating jobs. Biden touted the job-creation virtues of the Economic Recovery Act during a speech at G.E.'s appliance park, where the company is making a $600 million investment to expand manufacturing with a focus on energy efficient appliances. That investment is backed by a nearly $25 million tax credit G.E. received under the stimulus.
"The only way we can make our economy grow is to create jobs and that requires a vibrant private sector to put paychecks in people's pockets, help develop these new industries if we're going to survive and lead, particularly in the area of clean energy."
The vice president told a cheering crowd of G.E. workers that the tax credits doled out as part of the stimulus are an example of government helping jump start the nation's economy.