A coalition of green energy groups and advocates announced Wednesday that they plan to meet with lawmakers on Capitol Hill to preserve tax credits from former President Joe Biden’s signature climate law as Republicans consider sweeping spending cuts. [emphasis, links added]
Representatives from these green groups are set to meet with members of Congress as part of a broad push to protect Inflation Reduction Act (IRA) green energy tax incentives, according to a press release.
Republican lawmakers have floated cuts to IRA spending along with dozens of federal initiatives to reallocate funds and align them with President Donald Trump’s agenda for broad immigration enforcement, bolstering reliable energy, and cutting taxes for Americans.
Over 100 meetings have been scheduled with lawmakers from both parties, featuring members from the Solar Energy Industries Association (SEIA), the Business Council for Sustainable Energy, and the National Hydropower Association, among others, according to the press release.
Biden signed the IRA into law in August 2022 amid record inflation levels, which he later claimed was largely passed to push through his climate agenda.
The bill disbursed billions in massive subsidies to renewable energy companies and electric vehicle manufacturers among other industries.
Trump previously referred to the IRA as the “Green New Scam” and promised in September to “rescind all unspent funds under the misnamed” act, which is projected to cost American taxpayers roughly $780 billion through 2031.
The Biden-Harris administration rolled out dozens of green energy initiatives during Biden’s sole term as part of his signature climate agenda, including enacting stringent tailpipe emissions standards in March 2024 and leading a massive push for the adoption of electric vehicles by offering various subsidies and incentives.
Now, renewable energy companies hope to convince lawmakers to maintain the Biden-era tax cuts afforded to the industry. …
In one list of potential budget cuts, however, GOP members on the Ways and Means Committee recently suggested repealing the energy tax credits, noting that it could amount to $796 billion in savings over 10 years.
Republicans have criticized the hefty price tag associated with Biden’s IRA since its passage, including Republican Oklahoma Sen. James Lankford, who said in 2022 that the climate law “doesn’t reduce the deficit, it doesn’t reduce inflation, it just raises taxes, it increases spending dramatically.”
.@SenatorLankford: The Inflation Reduction Act “doesn’t reduce deficit, it doesn’t reduce inflation, it just raises taxes, it increases spending dramatically.”
MORE: https://t.co/fGaZm8F3gk pic.twitter.com/ScV11b7bfp
— NEWSMAX (@NEWSMAX) August 4, 2022
“Look, at the end of the day, the IRA tax credits are unaffordable,” Republican Florida Rep. Byron Donalds said in September 2024. “In my view, they need to go away. We have enough government subsidies floating out of this town, we don’t need more.”
Seven senators and 14 U.S. representatives also sent a letter to Senate Majority Leader John Thune and Speaker of the House Mike Johnson in December 2024 calling for a repeal of the “green tax credits.” …
Department of Transportation Secretary Sean Duffy signed a memorandum on Jan. 28 to begin overturning the Biden-Harris administration’s stringent vehicle fuel economy standards.
Read the full post at Daily Caller
