A group of Senate Republicans is urging their party leadership to keep the clean energy tax credits in Democrats’ Inflation Reduction Act, warning that repealing them would undermine President Donald Trump’s bid to stimulate manufacturing and could cause electricity prices to skyrocket.
Sens. Lisa Murkowski (R-Alaska), a vocal centrist, and John Curtis (R-Utah), a freshman who previously chaired the House Conservative Climate Caucus, led the letter that calls on Republican leadership to ensure the budget reconciliation talks taking place preserve the tax credits that benefit technologies from solar and wind power to geothermal and nuclear energy that were included in the Biden-era climate law. North Carolina’s Thom Tillis and Kansas’ Jerry Moran also signed the letter.
In the letter to Majority Leader John Thune (R-S.D.) shared exclusively with POLITICO, the four urge their colleagues to judge the merits of the tax credits on a three-part test: whether they are helping to “spur new manufacturing and investment,” reducing utility bills for consumers, and ensuring “certainty for businesses that have already made meaningful U.S. investments.”
“Many American companies have made substantial investments in domestic energy production and infrastructure based on the current energy tax framework,” the Republicans wrote.
