The clean energy tax credits will add $238 million in annual economic value to Iowa if left intact

Washington D.C. – Nearly three-fifths of Iowa’s electricity generation comes from renewable sources, yet Iowa’s congressional delegation is staying silent on taking away the tax credits, which threatens up to $238 million in economic activity in Iowa, all while the state is already 49th in economic growth.

Cutting the tax credits would hurt regular Iowa families and businesses, as their electricity bills would go up due to a higher demand that lacks a higher supply to match it. Yet, the big, bad, budget busting bill supports tax breaks for billionaires and the top .1 percent and adds $2.4 trillion to the national deficit.

Climate Power found more than 400,00 jobs nationwide are in jeopardy without the tax credits.

Representatives Randy Feenstra, Ashley Hinson, Mariannette Miller-Meeks, and Zach Nunn are not only silent about their vote to cut the tax credits, they also failed to sign an open letter that thirteen House Republicans signed onto urging the Senate to scale back the cuts. Even former GOP State Senator Waylon Brown has spoken up in favor of the credits, when our current leaders will not. “Stripping away these tax credits won’t hurt  corporations – it’ll hurt the family farms.” He urges Sen. Grassley to fight for the clean energy credits he himself pioneered to be put back into the bill.

“Renewable energy is a vital, and growing industry in Iowa. It provides good jobs and cheap electricity for the entire state,” said Iowa Democratic Party Chair Rita Hart. “Iowa’s Republican representatives just helped deal Iowa’s renewable energy sector a major blow, all to pass tax cuts for the millionaires and billionaires who are calling the shots. Republican leadership has already made Iowa’s economy the worst in the nation.”