Ahead of the bill’s markup on Tuesday, the House Ways & Means Committee released amended text for its portion of the Republicans’ sweeping spending plan to fund a multi-trillion-dollar tax giveaway for billionaires and big corporations. The bill proposes reducing and phasing out the technology-neutral Investment Tax Credit and Production Tax Credit for clean energy projects, and would eliminate the clean vehicle, home energy efficiency, and residential solar tax credits, among many other key climate and energy credits. The bill also eliminates crucial transferability provisions. In response, Evergreen Action Executive Director Lena Moffitt released the following statement:

“Once again, Republicans have made their priorities crystal clear: They’re willing to raise energy prices, kill jobs, and undermine American energy security to fund more tax cuts for billionaires and their Big Oil donors. At a time when electricity demand is surging and families are already paying the price for Trump’s reckless energy inflationary policies, this bill would torch the tax credits that are making daily life more affordable while fueling a domestic manufacturing boom.

“This isn’t fiscal responsibility. It’s economic sabotage. Despite broad bipartisan support for clean energy, Republicans are siding with fossil fuel CEOs to jeopardize billions of dollars of investments that are creating jobs in their own districts. Attempting to undermine technologies making America more competitive and energy independent will only raise costs and gut an overwhelmingly popular clean energy economy, all so wealthy oligarchs like Elon Musk can add to their obscene wealth while average Americans struggle.”

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