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Home Science & Environment Climate Change

Chart: Repealing the Inflation Reduction Act would…

November 27, 2024
in Climate Change
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Because states that lean Republican are seeing so many economic benefits, experts have predicted that the law will prove difficult to undo, despite the GOP having control over the presidency and Congress.

In an August letter, 18 Republican representatives urged House Speaker Mike Johnson (R) not to fully repeal the law. ​“Energy tax credits have spurred innovation, incentivized investment, and created good jobs in many parts of the country — including many districts represented by members of our conference,” the representatives wrote.

Johnson, for his part, said in September that he’d use a ​“scalpel and not a sledgehammer” on the Inflation Reduction Act, though he also claimed that the law has been ​“terribly harmful to the economy.”

Even if the Trump administration decides to follow Johnson’s approach and forgo the sledgehammer, a scalpel can still do plenty of damage to U.S. clean energy manufacturing and the energy transition, which needs more, not less, investment.

Clean Energy Counsel is the only mission-driven law firm exclusively focused on renewable energy and clean technologies. From early-stage venture investment, offtake, site control, equipment supply, and EPC contracting, through project acquisitions, debt, and tax equity, we counsel clients through every stage of the project life cycle. Visit our website to explore how we can work together toward a sustainable future.

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