Thankful for Reps. Hurd and Evans for standing up for clean energy tax credits

Previously published in the Denver Post.

Thanks to Rep. Jeff Hurd and Rep. Gabe Evans for joining 19 of their fellow House Republicans in a letter asking House Ways and Means Committee Chair Jason Smith to protect clean energy tax credits that were part of the Inflation Reduction Act. These credits encourage private sector investment in energy, bringing jobs to our state, increasing economic development, and adding tax revenue.

Business leaders have integrated this tax policy into their strategies and capital spending, and have already started to build.  If Congress takes the energy credits away, not only will it waste capital expenditure funds already invested in the specific projects, but the project failures will trigger a chain reaction — not just in Colorado, but across the United States.

The letter to Chairman Smith emphasizes the risk that repeal poses to our energy supply and power bills: “As energy demand continues to skyrocket, any modifications that inhibit our ability to deploy new energy production risk sparking an energy crisis in our country, resulting in drastically higher power bills for American families.”

If we’re serious about a strong economy, if we’re serious about energy dominance, then we need a stable business development environment. I commend Rep. Hurd and Rep. Evans for their leadership on this issue.