September 5, 2024
President Joe Biden extolled his administration’s progress on ocean industrialization Thursday morning. Jerry Leeman, CEO of the New England Fishermen’s Stewardship Association (NEFSA) issued the following statement.
“Commercial fishermen are already bearing the consequences of this administration’s investments in ocean industrialization. Our members are still pulling detritus out of the water and navigating hazardous fiberglass shards all over the Nantucket Sound following the disastrous blade detachment at Vineyard Wind is July.”
“Vineyard Wind is a major beneficiary of the Inflation Reduction Act. The IRA makes massive tax credits available to foreign corporations industrializing our historic fishing grounds and threatening American jobs and food security. Those tax credits facilitated a $1.2 billion dollar tax equity package that is financing Vineyard Wind. This mega deal may yet work out for foreign developers and big banks. It is not working out for our members and maritime communities.”
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