Who cares about our environment? Not the MAGAs.

No further comment needed.

Analysis: $14B in US clean energy plans nixed in ’25 Firms concerned Trump tax bill will jeopardize investments By Alexa St. John and Isabella O’Malley Associated Press

More than $14 billion in clean energy investments in the U.S. have been canceled or delayed this year, according to an analysis released Thursday, as the pending megabill supported by President Donald Trump has raised fears over the future of domestic battery, electric vehicle, and solar and wind energy development.

Many companies are concerned that investments will be in jeopardy amid House Republicans’ passage of a tax bill that would gut clean energy credits, nonpartisan group E2 said in its analysis of projects that it and consultancy Atlas Public Policy tracked.

The groups estimate that the losses since January have also cost 10,000 new clean energy jobs.

The tax credits, bolstered in the landmark climate bill passed under then-President Joe Biden in 2022, are crucial for boosting renewable technologies key to the clean energy transition. E2 estimates that $132 billion in plans have been announced since the so-called Inflation Reduction Act passed, not counting the cancellations.

Last week’s bill effectively renders moot many of the law’s incentives. Advocacy groups decried the potential impact that could have on the industry after the multitrillion-dollar tax breaks package passed.

“The House’s plan coupled with the administration’s focus on stomping out clean energy and returning us to a country powered by coal and gas guzzlers is causing businesses to cancel plans, delay their plans and take their money and jobs to other countries instead,” E2 executive director Bob Keefe said.

The Senate is reviewing the bill, with an informal July 4 deadline to get it to the president’s desk.

Of the projects canceled this year, most — more than $12 billion worth — came in Republican-led states and congressional districts, the analysis said. Red districts have benefited more than blue ones from an influx of clean energy development and jobs, experts say.

“If all of a sudden these tax credits are removed, I’m not sure how these ongoing projects are going to continue,” said Fengqi You, an engineering professor at Cornell University who was not involved in the analysis.

A handful of Republican lawmakers have urged the continuation of energy tax credits, with some saying in an April letter to Senate Majority Leader John Thune, R-S.D., that a repeal could disrupt the American people and weaken the country’s position as a global energy leader.

The Trump administration has sought to dismantle much of Biden’s environmental and climate-related policy in an effort to bolster a fossil fuel-led “American energy dominance” agenda.

Meanwhile, other countries are proceeding with green investments.

The European Parliament is committing to the European Union Carbon Border Adjustment Mechanism, a policy meant to prevent “carbon leakage,” or companies moving production to countries where climate policies are less strict.

And the International Maritime Organization is moving toward a global carbon tax on shipping.

Rodger Malcolm Mitchell

Monetary Sovereignty

Twitter: @rodgermitchell

Search #monetarysovereignty

Facebook: Rodger Malcolm Mitchell;

MUCK RACK: https://muckrack.com/rodger-malcolm-mitchell;

https://www.academia.edu/

……………………………………………………………………..

A Government’s Sole Purpose is to Improve and Protect The People’s Lives.

MONETARY SOVEREIGNTY