EEI Applauds Passage of the Clean Energy Tax Package
EEI Applauds Passage of the Clean Energy Tax Package
On August 16, President Biden signed the Inflation Reduction Act (IRA) into law. This landmark legislation includes a robust clean energy tax package and will provide $369 billion in new spending—the largest climate investment in U.S. history. Passage and enactment of the historic legislation followed more than a year of discussions among members of Congress, Administration officials, electric power industry leaders, and other key stakeholders.
EEI President Tom Kuhn applauded Congress and President Biden for enacting the legislation.
“EEI and America’s investor-owned electric companies have been relentless in our efforts to drive innovation and to advance policies that will accelerate the deployment of new clean energy resources across the country, while also enabling us to continue prioritizing customer reliability and affordability,” Kuhn said.
“The clean energy tax credits included in the IRA are the right policies. They will provide significant long-term benefits to electricity customers and will deliver a clean energy future and a carbon-free economy faster,” Kuhn added. “This legislation firmly places the United States at the forefront of global efforts to drive down carbon emissions, especially when paired with the historic RDD&D funding included in the Infrastructure Investment and Jobs Act. It also provides much-needed certainty to America’s electric companies over the next decade, as they work to deploy clean energy and carbon-free technologies. The innovation that this technology-neutral legislation will unlock also will create good-paying union jobs here in America.”
“The robust clean energy tax package included in the IRA also will provide significant long-term benefits to electricity customers across America,” Kuhn concluded. “EEI and our member companies look forward to continuing to work with President Biden and with leaders across the Administration on the implementation of these landmark laws.”