House bill slashes home energy credits, will increase economic burden on American families
The Senate must protect these smart investments and reaffirm political consensus that lowering costs must be our shared focus and priority
The following is a statement from Rewiring America CEO Ari Matusiak on last night’s budget bill vote in Congress:
“As Senators take up the tax bill passed by the U.S. House of Representatives, they have the power to relieve — or compound — the tremendous economic pressure on American households right now.
“Among the programs cut from the budget was the small but mighty Energy Efficient Home Improvement Credit (25C), which households can claim when they install efficiency upgrades like heat pumps and insulation. Enacted by a Republican Congress and extended by President Trump multiple times, this credit has been helping millions of Americans save money since 2005.
“The bill also cuts credits for rooftop solar and battery storage — and its further attacks on solar undermine the cheapest and fastest-growing source of electricity for American families right when we need to be shoring up affordable energy.
“This policy about-face couldn’t come at a worse time: energy prices have surged 30 percent since 2020. Maintaining these tax credits gives American households an opportunity to offset these price hikes, potentially saving up to $990 a year with efficiency upgrades, $2,240 a year with rooftop solar, and 60 percent on fuel costs with an EV.
“These are critical kitchen table decisions for tens of millions of Americans who don’t deserve endless increases in their monthly bills. We don't need any more own goals when it comes to increasing the economic burdens on American families. The Senate has the opportunity now to protect these smart investments and to reaffirm the political consensus that lowering costs must be our shared focus and priority.”
Read more original analysis from Rewiring America on 25C and 25D tax credits: