The House Ways and Means Committee has proposed a repeal of the Inflation Reduction Act in its Build It in America Act (HR 3938).
The committee says its goal is to replace the IRA with “broad-based policies that create jobs and benefit hardworking Americans.”
This is the second attempt by the Republican-led House of Representatives to repeal the IRA this year. In April, the House voted to repeal it in debt limit negotiations, but the bill did not advance in the Senate. President Biden vowed to veto the bill if it passed both chambers.
SEIA strongly cautioned against the latest effort to repeal the IRA’s clean energy credits.
“We urge Congress to remove the Inflation Reduction Act’s solar and storage credits from the House Ways and Means tax package,” said Abigail Ross Hopper, president and CEO, in a press statement. “In less than a year these pro-business, pro-growth policies have spurred more than 65 GW of clean energy manufacturing announcements around the country. These announcements translate to support for our communities and thousands of jobs where we need them most. They will also help us onshore the solar supply chain, making the IRA one of the most important and effective policies we have to invest in our energy security.
“Repealing the IRA will destabilize the $35 billion solar market and harm thousands of small businesses in the process. More than 255,000 Americans rely on their solar and storage job to support their families, and Congress must act to protect them,” she continued.
