Letter: Preserve Clean Energy Tax Credits for IRA
TL/DR –
The Trump administration and the Republican budget blueprint propose repealing the Inflation Reduction Act and retrieving previously authorized funding for Nevada. This would affect the IRA’s allocations of $6.5 billion for clean energy projects and $96 million for home energy rebates across the state. If the Act is repealed, over $9 billion in private investments and more than 10,000 potential new jobs in Northern Nevada could be at risk.
Republican Blueprint Threatens Nevada’s Clean Energy Funding
Republican budget proposals and the Trump administration aim to repeal the Inflation Reduction Act (IRA), potentially rescinding already Congress-approved funding for Nevada.
The IRA offers key benefits to Northern Nevada’s economy and community wellbeing, particularly in the clean energy sector.
Within the IRA are clean energy tax credits and loans, which designated $6.5 billion to Northern Nevada firms for clean energy initiatives. Major projects include the Tesla Gigafactory expansion in Storey County and lithium battery recycling by Redwood Materials.
These initiatives generated over $9 billion in private investment commitments and could potentially introduce over 10,000 new jobs to Northern Nevada. However, if the IRA is repealed, these gains are at risk.
The IRA also allocated $96 million to Nevada for home energy rebates statewide, with additional funds for low-income households. This enables households to save on energy costs through home insulation, energy-efficient appliances, and heat pump installation.
Call to Action for Northern Nevada’s Economy
This crucial funding has been temporarily halted by the Trump administration. Mark Amodei, who co-signed a letter asking the House Ways and Means Committee to preserve the tax credits, needs to take further action. Residents are encouraged to contact him at 775-586-5760 to express the importance of these initiatives for Northern Nevada’s economy and environment.
Chas Macquarie
Carson City
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