So Cute!! 21 GQP House Members Want To Protect Some IRA Tax Credits; However, Nearly All Of Them HATE Electric Cars
A growing number of House Republicans are asking federal budget planners to protect Biden-era tax incentives for clean and renewable energy projects from repeal by Congress and freezes by the Trump administration. In a letter on Sunday, 21 Republican members of the House warned of economic disruptions and loss of investments if the tax credits from the 2022 Inflation Reduction Act were slashed.
The letter came as the House Ways and Means Committee is expected to begin meeting behind closed doors to decide precisely which budget cuts to make to pay for Trump’s big tax cut bill, a measure expected to be passed through what is known as a budget reconciliation process. It is the same process that was used to pass the IRA, and requires only a simple majority in the Senate for passage. At the same time, Congress is racing to pass a bill to cover the current fiscal year and avoid a government shutdown before a March 14 deadline. “Both our constituencies and the energy industry alike remain concerned about disruptive changes to our nation’s energy tax structure,” the Republican lawmakers wrote.
Incentives offered under the IRA include tax discounts for a wide range of new energy fields, from electric vehicles and ethanol fuels to wind and solar farms, hydrogen plants and carbon capture projects. Many of the incentives were enacted for a 10-year period, the Republicans’ letter said, allowing developers to incorporate them into plans for major projects, “all of which would be jeopardized by premature credit phase outs or additional restrictive mechanisms.” But not every Republican signatory supports every energy tax credit offered under the IRA. Many remain opposed to programs supporting electric vehicles in particular.
When reached earlier this year about whether he continued to support preservation of at least some of the energy tax incentives in the IRA, Rep. Don Bacon (R-Neb.) made clear that he particularly was concerned about the provisions that benefited his state’s farm economy. Nebraska is second only to neighboring Iowa in ethanol production capacity, and it also is one of the nation’s leading wind energy states, with many wind developments benefiting farmers who have signed agreements to have turbines on their land. The IRA extended or increased certain tax credits for wind projects and ethanol production, and also provided new opportunities for the ethanol industry to generate tax savings through installation of carbon capture, biogas or energy efficiency upgrades.
EDIT
https://insideclimatenews.org/news/10032025/some-republicans-defend-clean-energy-tax-credits/
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