White House climate adviser touts key law's benefits for red states
By Valerie Volcovici
WASHINGTON, Aug 13 (Reuters) -White House climate adviser John Podesta on Tuesday touted the benefits for Republican states and districts of incentives offered by the Biden administration's signature climate law, the Inflation Reduction Act.
Podesta said in a speech in Washington he was confident that the law, which provides billions of dollars in tax credits to help consumers buy electric vehicles and companies produce renewable energy, could continue to succeed if Republicans take control of the White House and Congress in the November elections despite political rhetoric.
U.S. House Republicans have attempted to repeal part or all of the law 42 times, Podesta said, despite it benefiting Republican states, with the majority of its new jobs created in congressional districts represented by Republicans.
"Understandably, people are asking if that investment can really stick regardless of who is in power here in Washington. My answer to the question of whether the Inflation Reduction Act has staying power is yes," Podesta said at an event hosted by think tank Third Way.
He said despite no Republicans voting for the IRA when it passed in 2022, districts and states led by those lawmakers accounted for 58% of new jobs created due to investments from the law, according to advocacy group Climate Power.
Podesta mentioned several states such as Oklahoma and South Carolina where Republican politicians have publicly celebrated in-state investments that emerged as a result of IRA tax incentives. He also pointed to a letter by House Republicans who have urged party leadership to protect IRA provisions.
The letter to House Speaker Michael Johnson earlier this month by 18 Republican representatives urged him against revoking all of the IRA if the party wins control of the House and Senate.
"A full repeal would create a worst-case scenario where we would have spent billions of taxpayer dollars and received next to nothing in return,” the letter said.
Reporting by Valerie Volcovici; editing by Jonathan Oatis
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Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
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