Congress passes megabill that represents a setback in the nation’s clean energy economy, harming U.S. innovation and competitiveness
WASHINGTON – Today, the U.S. House of Representatives passed the Republicans’ updated “megabill,” which will eliminate funding for clean energy programs, significantly scale back clean energy tax credits, and weaken air pollution controls. The bill now heads to President Trump’s desk for signature.
Clean Air Task Force’s Senior Director, U.S., Conrad Schneider said:
“The clean energy provisions in the Inflation Reduction Act were estimated to put the U.S. within reach of its climate targets, reduce harmful air pollution, create hundreds of thousands of jobs in competitive industries, spur billions of dollars of investment, bolster American manufacturing, and create a more secure and affordable grid — all of which were well underway. While it preserves a shortened but needed runway for clean firm technologies such as nuclear energy, geothermal, carbon capture, and hydrogen, the immediate effects of the bill will impede progress. It will also increase electricity costs for Americans, reduce consumer choice, eliminate good paying domestic jobs, and increase air pollution, all while undercutting the United States’ competitive edge on innovative clean energy technologies. Where we saw projects announced, we will see cancellations; where we saw job growth, we will see jobs lost. And red and blue states alike will feel the consequences.
“Creating a more affordable, reliable, and clean electricity grid requires playing the long game and takes sustained commitment from the federal government and the private sector. This bill sends a signal to investors and the rest of the world that the future of American clean energy innovation is uncertain. The U.S. has the opportunity to lead in the global clean energy economy, but this shortsighted move will hamstring innovation, and consumers will pay the price.
“Clean energy is not a partisan issue. Technologies like carbon capture, nuclear, fusion, and geothermal — which continue to enjoy bipartisan support — are essential to building a secure, affordable, and reliable decarbonized U.S. energy system. We urge Congress to build on these areas of common ground and work toward durable policies that restore certainty for project developers, manufacturers, and communities alike.”
CATF tracks clean energy investments that were spurred by federal legislation to understand where investment is going and for what projects. CATF has also outlined recommendations for Congress and the administration to accelerate deployment of clean energy technologies like advanced nuclear energy (fission and fusion), carbon capture and storage, and next-generation geothermal.
Press Contact
Samantha Sadowski, Senior Communications Manager, U.S., ssadowski@catf.us, +1 202-440-1717
About Clean Air Task Force
Clean Air Task Force (CATF) is a global nonprofit organization working to safeguard against the worst impacts of climate change by catalyzing the rapid development and deployment of low-carbon energy and other climate-protecting technologies. With more than 25 years of internationally recognized expertise on climate policy and a fierce commitment to exploring all potential solutions, CATF is a pragmatic, non-ideological advocacy group with the bold ideas needed to address climate change. CATF has offices in Boston, Washington D.C., and Brussels, with staff working virtually around the world. Visit catf.us and follow @cleanaircatf.
