The House recently passed a budget reconciliation bill by a narrow margin, which includes provisions that effectively cancel many aspects of the Inflation Reduction Act. Environmental groups are condemning this move as a significant betrayal, arguing it could lead to job losses and higher electricity costs. Despite initial concerns from some House Republicans regarding tax credits being phased out, all but one member supported the bill, demonstrating party pressures outweighing individual objections. The bill now proceeds to the Senate for consideration.
"House leadership was able to assuage some of those concerns when the draft of the bill showed that tax credits for biofuels would be preserved."
"The measure, which now heads to the Senate, is being described by clean energy and environmental groups as a monumental betrayal of the country that will cost jobs and increase electricity bills."
#budget-reconciliation #inflation-reduction-act #energy-policy #republican-party #environmental-concerns
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