Senate Budget Proposal Drastically Rolls Back Manufacturing Tax Credits, Slashes Funding for Clean Energy and Jobs
The U.S. Senate Finance Committee released its proposed text for the Congressional budget bill, completing the Senate’s version of the GOP reconciliation package. This final title claws back grant funding helping us transition to a clean energy economy and in large part upholds a rollback of clean energy and advanced manufacturing tax credits passed by the U.S. House of Representatives. If the budget bill passes as is, it puts 2 million jobs within the country’s burgeoning clean energy manufacturing footprint at risk.
These critical investments are creating the market certainly developers and manufacturers need to break ground on factories all over the country, reshore domestic supply chains, and create clean energy solutions for an overtaxed electric grid. The tax credits have already helped create hundreds of thousands of jobs, particularly in districts where Republican lawmakers voted to repeal them.
Following the announcement from the Senate Finance Committee, the BlueGreen Alliance released a statement from Executive Director Jason Walsh:
“Republicans continue to show they don’t care about their constituents and the communities they live in. They are sabotaging the fastest growth sector of the American economy to hand huge tax cuts to the ultra-wealthy. They are repealing clean energy tax credits at the expense of blue-collar workers, crippling American manufacturing competitiveness, and co-signing the country to a future of pollution in our air, water, and land. There is still time to stop this one big failure if Senators stand up for workers and jobs in their states.”