House Republicans unveiled a bill that would roll back the the $370 billion in the Inflation Reduction Act allocated to address climate change. Additionally, it seeks to boost fossil fuel production through loosened permitting requirements and lower fees.
Some Republican House members have targeted the climate and clean energy programs specifically. Rep. Bob Good, R-Va., a member of the right-wing Freedom Caucus, told Roll Call on Tuesday thatand electrification tax credits is “essential” for him to support a debt ceiling increase.Majority Leader Steve Scalise,Majority Whip Tom Emmer, R-Minn., Conference Chair Elise Stefanik, R-N.Y., and McCarthy joined House Budget Committee Chair Jodey Arrington, R-Texas, to introduce the bill on Wednesday.
The IRA limits tax credits on electric vehicles and solar panels to those whose components are mostly manufactured in the U.S. Those provisions of the law have sparked a domestic manufacturing boom, and climate activists predict that repealing the clean-energy subsidies would cripple a fast-growing industry.
“We are at the start of a clean energy boom. There’s more than 100,000 jobs that have been included since the Inflation Reduction Act was signed into law,” Tiernan Sittenfeld, a senior vice president at the League of Conservation Voters, told Yahoo News. “This flies in the face of all of this incredibly badly needed progress that creates jobs, saves people money on their energy bills, that protects the planet ... and here the Republicans are being so reckless.
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