SC Alaska News

In a recent letter to United States Senate Majority Leader John Thune, Senators Lisa Murkowski, John Curtis, Thom Tillis, and Jerry Moran reaffirmed their support for maintaining energy tax credits. The Senators emphasized the role these credits play in promoting domestic energy development and ensuring economic stability.

"The United States produces some of the cleanest and most efficient energy in the world, and an all-of-the-above approach—including support for traditional and renewable energy sources—has long been a hallmark of our energy strategy," they stated. This strategy, they argue, is crucial for encouraging investments that drive the nation's energy production and infrastructure growth.

The Senators cautioned against a complete repeal of current credits, suggesting such actions might disrupt capital allocation, long-term project planning, and job creation. The letter further acknowledges the necessity of reforms to enhance the system's efficiency and accountability.

They asserted the importance of energy tax credits in reducing utility bills for consumers and supporting U.S. leadership in energy innovation. The Senators also highlighted the credits' role in enabling substantial investments facilitated by provisions from the Inflation Reduction Act.

The letter called for a balance between fiscal responsibility and maintaining incentives that foster domestic manufacturing and global competitiveness. The Senators concluded by expressing their willingness to collaborate on measures that would reinforce U.S. energy needs and economic competitiveness.