re: Tillis and Murkowski are going to bring back the green tax credits cut from the bill

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Another point of friction are the proposals in the House bill to phase out clean energy incentives enacted by the Inflation Reduction Act, which could wipe out billions of dollars of investment in Republican states. Sens. Thom Tillis (R-N.C.), John Curtis (R-Utah), Murkowski and Moran wrote a letter to Senate Thune last month to “emphasize the importance of maintaining a stable and predictable tax framework to promote domestic energy development.”

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development.” “We caution against the full-sale repeal of current credits, which could lead to significant disruptions for the American people and weaken our position as a global energy leader,” they warned. Tillis said Thursday that the House bill would need to be changed to avoid stranding billions of dollars of private-sector investment in clean energy projects. “If millions or billions of dollars have been deployed, we’ve got to give those businesses some offramp,” he said. He said suddenly cutting off renewable energy subsidies would “have the same sort of effect” as what the oil industry suffered when former President Biden “just arbitrarily canceled the [Keystone] XL pipeline” in 2021.

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