Republicans’ multi-trillion-dollar budget reconciliation bill, set to hit the House floor Thursday, repeals multiple tax credits implemented by the Inflation Reduction Act that subsidize infrastructure meant to reduce greenhouse gas emissions.
Yet even as Democrats have denounced the plan as “extreme,” some Republican lawmakers argue the legislation doesn’t go far enough.
The 2022 Inflation Reduction Act included 21 new climate-related tax expenditures, including subsidies and deductions for electric vehicle owners, homeowners who make their houses energy efficient, and facilities that generate electricity from wind turbines and solar panels.
