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WASHINGTON, DC—The Co-Chairs of the Electrification Caucus in the House, U.S. Representatives Paul Tonko (D-N.Y.) and Kathy Castor (D-Fla.) released the following statement in response to Speaker Kevin McCarthy’s attempt to hold hostage the full faith and credit of the United States in exchange for deeply unpopular policies.

“The bill released by Speaker McCarthy represents a wholesale attack on America’s energy future and steals wealth and economic opportunity away from everyday Americans. The Inflation Reduction Act (IRA) provides as much as $18,000 per household to upgrade the machines we depend on daily, improve our standard of living, reduce pollution, and save big on energy costs. 

“The IRA is has helped spur nearly $250 billion in private-sector investments across 41 states and create over 140,000 new, good-paying jobs. It’s also helping to bring manufacturing capacity and supply chains back to the U.S., with $65 billion of investment in 79 manufacturing projects already announced since the IRA became law. Speaker McCarthy’s claims that the IRA and other clean energy investments are empowering China are the opposite of reality. These investments — the first major American industrial policy in 30 years — are putting the U.S. back in the (EV) driver's seat to lead the world in the clean energy transition. Repealing these investments will only cede leadership to our competitors.

“We urge our colleagues across the aisle in the House, especially those who represent districts that have directly benefited from the billions of dollars in clean energy investments and new jobs created by the IRA, to reconsider this effort. Following the loudest and most extreme voices in the House GOP Caucus is a recipe for economic disaster and American decline.”