Today, Senate Republicans introduced a bill that would eliminate the electric vehicle tax credits implemented under the Inflation Reduction Act – a key policy that would accelerate the clean energy transition. A recent report from the Institute of Macroeconomic Policy and Analysis has also found that repealing clean energy credits would reduce GDP by 2% in the long run and lower wages and employment.
Groundwork Collaborative’s Director of Policy and Research Bilal Baydoun reacted with the following statement:
“The Inflation Reduction Act’s provisions to create a sustainable, clean energy economy are ushering in a new period of economic growth. Repealing these efforts does exactly the opposite: this bill would shrink our economy and harm the workers who power it.”
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