On May 22, the U.S. House voted to pass a budget bill that drastically cuts America’s clean energy tax credits. I’m disappointed to see that the House advanced this legislation.
Make no mistake: These cuts will hurt Missouri if they go on to become law. Experts are already warning that these changes would raise energy costs for American households, increase pollution, and threaten growing economic investments we’ve seen in Missouri. The House passage of this bill just put these investments at risk.
Federal tax credits — designed to boost clean energy manufacturing in the U.S. — have been working. Since the passage of the Inflation Reduction Act (IRA) in 2022, Missouri has benefited from $2.5 billion of investment from 10 projects, that have led to the creation of 2,400 jobs.
The tax cre