As budget reconciliation rolls along, four additional members of Congress have penned a letter to Senate Majority Leader John Thune asking him to protect the IRA. The latest letter from Senators Lisa Murkowski (R-AK), Thom Tillis (R-FL), John Curtis (R-UT) and Jerry Moran (R-KS) follows a similar March 9 letter to the Chairman of the House Committee on Ways and Means signed by 21 Republican representatives.
“Many American companies have made substantial investments in domestic energy production and infrastructure based on the current energy tax framework,” the senators write. “A wholesale repeal, or the termination of certain individual credits, would create uncertainty, jeopardizing capital allocation, long-term project planning, and job creation in the energy sector and across our broader economy.”
On Thursday, April 10, the House Of Representatives adopted the resolution needed for Republicans to begin working on budget reconciliation, according to Capitol Hill news organization Roll Call. The resolution sets a $1.5 trillion savings goal over 10 years, so lawmakers are searching for cuts wherever possible.
House committees will soon begin the markup process for budget reconciliation, in conjunction with Senate panels. Solar United Neighbors and other renewable energy advocacy groups are hoping the bipartisan support for the IRA will keep it off the chopping block.
“The federal solar tax credits and related programs are enabling millions of American households and small businesses to lower and control their rising electricity costs,” said Glen Brand, director of policy and advocacy for Solar United Neighbors. “As the 21 House Republicans and four Republican Senators made clear in their recent letters to their leaders, there is bipartisan support for protecting the Investment Tax Credit, especially the 30% residential tax credit, in the budget negotiations. The ITC, the Rural Energy for America Program and the Solar for All programs are much-needed, smart federal investments to help people and businesses across the country save money on their electricity bills.”
