The gutting of the Biden-era green tech and energy tax credits programme in the US would hurt key Republican states, drive up prices for consumers, hit jobs and “hand[s] a victory” to China, a key architect of the Inflation Reduction Act has warned.
The House of Representatives narrowly passed a sweeping budget bill on Thursday, which includes plans to end clean energy tax credits earlier than expected, undermining a central plank of the signature programme launched under former president Joe Biden.
Former top Biden climate and clean energy adviser John Podesta, who oversaw the development of the 2022 green credits and incentives plan, told the Financial Times Climate and Impact Summit that the Trump administration had “thrown in the towel” on turning the US into a key hub for clean tech and manufacturing.