As Congress debates federal clean energy tax credits, lawmakers must confront reality: cutting these programs would inflict severe economic pain on American families already struggling with high costs. Eliminating these credits would drive up electricity bills, eliminate good-paying jobs, and make energy-efficient home improvements unaffordable.
Family budgets under attack
For families squeezed by inflation, cutting clean energy tax credits would deliver another devastating blow. Independent analysis shows eliminating these credits would increase household electricity bills by an average of 10%, with some states facing increases over 20%. These credits are currently saving American families up to $38 billion on electricity bills through 2030 — in 2023 alone, 3.4 million families saved $8.4 billion.
Colorado provides a stark example. Eliminating these credits would create a $1 billion financing gap for energy projects and raise yearly household electricity bills by $145 by 2030. This comes when Colorado families can currently claim up to $3,200 in federal tax credits for energy-efficient improvements and 30% of costs for solar panels, heat pumps and battery storage.
Jobs and economic growth at risk
The Inflation Reduction Act is expected to generate 13.7 million jobs over the next decade, with 621,000 already announced in just two years. In communities suffering from manufacturing decline, these credits bring hope to families struggling to find stable, good-paying work.
Colorado’s 8th District has seen significant private sector investment, totaling around $1.1 billion in clean energy and advanced technology manufacturing, and has led to the creation of approximately 2,000 jobs in the district. Companies like Vestas, which manufactures wind turbines in Brighton, have invested over $1 billion in Colorado, supporting roughly 1,000 local jobs. Each position represents a family that can pay mortgages, afford health insurance, and spend in the local economy.
Making home improvements affordable
These tax credits have made energy-efficient improvements affordable for millions. The 25C Energy Efficient Home Improvement credit helped 2.3 million families improve their homes and reduce monthly bills in 2023. For low-to-moderate income households, these improvements mean not choosing between utility bills and groceries.
Seniors on fixed incomes and young families particularly benefit from energy improvements that create predictable monthly expenses and protection from volatile costs. In rural communities, where energy costs consume larger budget shares, these credits are especially valuable.
Bipartisan support reflects real benefits
These tax credits have gained support across political divides. Last August, 18 House Republicans urged Congress to retain IRA funding, warning that “full repeal would create a worst-case scenario.” Recently, 21 Republicans wrote supporting preservation of tax credits.
Colorado Republicans Gabe Evans and Jeff Hurd initially joined 19 others calling for restraint in cutting the Inflation Reduction Act. However, both ultimately voted for the House reconciliation bill eliminating these credits, despite $3.7 billion in clean energy investments flowing to their districts.
A kitchen table issue
This debate affects what families discuss around kitchen tables: Can we afford the electric bill? Will my solar factory job survive? Could we replace that inefficient furnace costing hundreds extra each winter?
The House passed reconciliation legislation eliminating tax credits for energy efficiency upgrades, heat pumps, and solar installations at year’s end, with other credits phasing out after 2028. For families planning improvements or workers building careers in these industries, this creates painful uncertainty.
The Senate’s opportunity
The Senate now has the opportunity to preserve these vital economic lifelines. Clean energy tax credits are working — lowering utility bills, creating stable jobs, and making efficient home improvements accessible.
Senators Bennet and Hickenlooper should listen to constituents who’ve found financial relief through these programs. Cutting them would be economic self-sabotage, hurting the very families these programs help. American families deserve nothing less.
The Grand Junction Cleantech Business Coalition, Conservation Colorado, and the Grand Valley Citizens’ Climate Lobby urge Congress to protect federal clean energy tax credits that drive growth, create jobs, and reduce emissions.
Jim Marshall, Chair of the Cleantech Business Coalition; Ian Roche, West Slope Organizing Manager – Conservation Colorado; Susan Hess, Co-lead – Grand Valley Citizens’ Climate Lobby
Read More Details
Finally We wish PressBee provided you with enough information of ( Jim Marshall: Don’t cut clean energy tax credits )
Also on site :
- ‘He plays the game the way I liked to play’ – Larry Bird saw former Pacers superstar as one of his rare NBA comparisons
- The Maycee Barber Fiasco Can’t Be Forgotten – And Shouldn’t Be
- Israel strikes Beirut’s suburbs to target what it says is Hezbollah drone production