WASHINGTON, D.C. – Lawmakers recently passed a Democrat-led infrastructure and climate package that includes a range of tax credits for eco-friendly energy sources and electric vehicles. The legislation also allocates funds for grants supporting projects that reduce pollution and combat climate change, along with measures to hold oil and gas companies accountable for methane leaks.
The new law has sparked controversy, particularly among Republicans who have expressed intentions to repeal at least parts of it if they gain control of the White House and both chambers of Congress. Even if they only secure the presidency, a potential second Trump administration could resort to executive actions to limit the law’s impact.
Oliver McPherson-Smith, the director of the Center for Energy & Environment at the America First Policy Institute, has stressed the need for a strategy to prioritize American taxpayers’ interests. He emphasized the importance of scrutinizing existing programs to ensure cost-efficiency and prevent financial flows to entities like the Chinese Communist Party.
One significant aspect under scrutiny is the tax credit guidance issued by the Treasury Department. The Biden administration’s broad interpretation of these guidelines has expanded the eligibility criteria for various credits, particularly those related to electric vehicles.
Commenting on potential actions regarding the infrastructure and climate package under a future Trump administration, Trump campaign national press secretary Karoline Leavitt mentioned plans to repeal what they deem as “radical EV mandates” by President Biden, aiming to reduce costs and stimulate economic growth.
Diana Furchtgott-Roth, the director of the Center for Energy, Climate, and Environment at the Heritage Foundation, suggested that the subsidies included in the legislation could be scaled back through updated Treasury interpretations without necessitating changes to the law.
For more information on the developments surrounding the infrastructure and climate package, stay tuned for updates on TheHill.com.