The American Clean Power Association (ACP) has issued a statement from CEO Jason Grumet following the advancement of the tax section of the budget reconciliation bill by the House Ways and Means Committee: “When Congress sends mixed signals on domestic energy policy, US companies face financial uncertainty, investment slows, and broader economic impacts follow.
The legislation advanced today does not provide a structured phase-out of clean energy tax credits. Instead, it introduces a sudden shift in policy that could increase energy costs, affect employment for tens of thousands of workers, and negatively impact local economies across the country.
We support the aim of encouraging job creation and innovation through appropriate tax policy. However, the current bill would raise taxes on the clean energy sector, one of the fastest-growing areas of the economy, undermining both legislative and broader economic objectives.
Reliable energy is essential for emerging technologies, including artificial intelligence and digital infrastructure. More than 90% of the new electricity added to the US grid last year came from clean energy sources, which are now at risk under this proposal. Policy changes that disrupt this progress may reduce domestic energy production and affect national energy security.
There are workable approaches to gradually phasing down clean energy incentives. ACP remains committed to working with lawmakers to find a path that supports policy aims without placing unnecessary strain on companies, consumers, and communities.”
