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House Republicans Push to Preserve Green Energy Tax Credits in Budget Talks

A group of 21 GOP lawmakers urges targeted changes to energy tax credits, citing benefits to private investments and energy security.

The U.S. Capitol building is seen in Washington, U.S., June 24, 2023. REUTERS/Elizabeth Frantz
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Overview

  • Twenty-one House Republicans, led by Rep. Andrew Garbarino, sent a letter to the House Ways and Means Committee advocating for the preservation of certain green energy tax credits from the Inflation Reduction Act (IRA).
  • The lawmakers argue that repealing these credits would disrupt ongoing clean energy projects, harm private sector investments, and raise energy costs for consumers.
  • The IRA's tax credits have spurred significant economic activity in Republican districts, with around 85% of private-sector investments in clean energy projects occurring in these areas.
  • The effort highlights divisions within the GOP, as some conservatives push for a full repeal of the IRA’s credits to fund President Trump’s tax and spending priorities.
  • The House Republicans' slim majority complicates budget reconciliation negotiations, as leadership must balance calls for spending cuts with preserving investments critical to their districts.