Washington, D.C. — Today, House Republicans on the  Ways and Means Committee released their initial budget bill, which would weaken and repeal policies that have fueled America’s energy boom. This move threatens America’s global energy leadership, economic growth, and energy reliability. If tax credits are gutted as proposed in the House Ways and Means markup, more than 700,000 projected jobs could be lost, energy bills would rise for families and businesses, and America’s energy reliability would suffer.

In response to the proposed budget bill, Andrew Reagan, President of Clean Energy for America released the following statement:

“House Republicans’ proposed reconciliation bill would raise taxes on every American through higher energy prices. Energy tax credits have put America on a winning path — unlocking over $600 billion in private investment and helping create more than 270,000 jobs, largely in Republican districts. Weakening these credits now would inject uncertainty into the economy, drive up energy costs for families, and hand over our competitive edge in manufacturing and AI to China. Congress must protect these policies, not sabotage the businesses who are driving growth, cutting costs, and helping the U.S. lead in the global energy race.”

The House Ways and Means Committee’s budget proposal threatens to terminate many energy tax credits by the end of December 2025, which have provided families with much-needed economic relief through lower electricity costs. Additionally, the Ways and Means budget would phase out credits that have supported major energy projects, which have created good-paying jobs, revitalized American manufacturing, and boosted local economic growth across the country. At a time when energy demand is rising, preserving these tax credits is essential. Weakening them, as this proposal does, would undermine America’s ability to meet 21st-century energy needs and compete globally in manufacturing and technology.