It becomes harder and harder for the US president to get support of the republicans, his main political opponents. The 2016 budget plan offered by President Obama was not appreciated by the Republican Party. In particular, changes to the tax code including rises in the Production Tax Credit, used by the wind industry, and in the Investment Tax Credit, used by the solar industry, became a controversial question. This would cost the government $31.5 billion over the next decade. The presidential administration believes that it may increase the growth of new vacancies considerably. It is noteworthy that the solar industry added jobs at a rate nearly 20 times faster than the national average growth rate. Moreover, experts anticipate that over the next 2 years renewable energy will equal the traditional energy or even will be 80% cheaper than it on global markets. The progress in this sector will be considerable. On the contrary, the latest budget plan would cut about $44 billion in gas and oil industry and would cancel stimulus to mining. As a result, about 10% of existing production capacity would be closed by 2017. What is more, toughened administrative barriers will slow down greatly the working process due to additional check that such companies will have to come through to extend financing. Nevertheless, Obama has permitted exploration and extraction on the Atlantic Coast, but it is unclear what companies will dare extract given the current situation and without the governmental support.
