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AEE Calls on Congress To Work Through Differences and Pass a Reconciliation Package That Uses Clean Energy to Reduce Inflation

Posted by Adam Winer on Jul 15, 2022

WASHINGTON, July 15, 2022 – National business association Advanced Energy Economy (AEE) President Heather O’Neill issued the following statement today about Senate budget reconciliation negotiations: 

“Americans are facing historic levels of inflation, driven in large part by global fossil fuel prices. The tax credits in this package would deliver much needed relief, helping to cut energy prices and reduce U.S. dependence on price-volatile fossil fuels, by spurring the domestic manufacturing and deployment of clean, affordable, and reliable advanced energy technologies. Failing to use this opportunity to boost the domestic advanced energy manufacturing industry would mean American workers get less benefit from the world’s transition to clean energy, and would all but assure that our economic competitors, particularly China, reap the economic rewards instead. We call on Congress to enact them as soon as possible.

“Understanding what’s at stake, it is also critical that the White House exercise the full breadth of executive actions available to bolster advanced energy manufacturing and deployment. To address fossil fuels-driven inflation and the risk it poses to U.S. security, President Biden has invoked the Defense Production Act (DPA) to expand the production of critical advanced energy technologies. We call on Congress to substantially expand the funding for the DPA to ensure America can swiftly and effectively address this threat and promote domestic manufacturing of these technologies.

“All this said, the transition to clean energy is under way, and it’s unstoppable. We see it in state commitments to 100 percent clean energy. We see it in corporate procurements driving clean energy investment across the country. We see it in consumer demand for electric vehicles as drivers seek to free themselves and their pocketbooks from the volatility of gasoline prices. We see it in the opportunity to fight inflation by reducing energy costs to consumers with advanced energy technologies, from renewable energy to energy efficiency. And we see it in the work of advanced energy companies to innovate and grow the production, deployment, and operation of advanced energy in the U.S. AEE and its member companies will continue to work with policymakers at all levels of government to continue and accelerate this transition, for the benefit of Americans everywhere.”

Topics: Federal Policy, Press Releases, Economic Impact, Manufacturing, Heather O'Neill