Overview

• A C2ES model finds that scrapping clean energy subsidies will increase U.S. greenhouse gas emissions by about 8 percent over baseline projections.
• Princeton and Rhodium Group forecasts indicate that by 2035 emissions cuts could shrink from 32–51 percent without the bill to 25–44 percent under its provisions.
• Energy Innovation projects wholesale electricity prices will rise 25 percent by 2030 and 74 percent by 2035, and consumer rates will climb 9–18 percent over the decade.
• The legislation locks in tax breaks for oil, gas and coal and expands drilling access on public lands and offshore.
• The Congressional Budget Office estimates the bill will add $3.4 trillion to federal deficits over the next decade.