I appreciate practical ideas that boost our economy, provide employment, and fortify America’s energy independence as a Boise company owner. Energy tax credits under the Inflation Reduction Act are turning out to be a wise investment in the future of America, particularly for companies like mine located in Idaho.
As demonstrated by recent reports that over a dozen House Republicans urged Speaker Mike Johnson to keep the clean energy tax credits from the Inflation Reduction Act in place, claiming they have already encouraged innovation, job creation, and investment in energy infrastructure across the country, the advantages are not limited by partisan politics. Nearly 78% of the $346 billion in announced investments went to Republican congressional districts, according to a CNN story from June. Some of that land was visible in the Gem State, such as the huge solar projects that Idaho Power has announced.
Clean energy helps people and companies in Idaho.
Idaho has long promoted an all-of-the-above approach to energy development, utilizing geothermal, nuclear, and hydropower, among other sources. By encouraging investments in these resources, the tax credits provided by the Inflation Reduction Act lessen our reliance on imported energy and keep energy money domestic.
These regulations are directly helping businesses in Boise. Local manufacturers are creating parts for renewable energy technology, contractors are busy installing energy-efficient systems, and solar companies are hiring. These are actual jobs and money coming into our town, not just hypothetical advantages.
These tax credits are also assisting in shielding local families and companies from fluctuating energy prices by giving priority to domestic energy production. Everybody has experienced financial hardship at the pump or seen their budgets eroded by excessive electricity bills. Increasing domestic energy production guarantees that we are not dependent on erratic international markets and offers much-needed stability.
Engineers, electricians, construction workers, and logistics specialists are needed for new sustainable energy projects in Boise. These well-paying positions, which span a range of education and skill levels, support families and the economy.
Refining effective energy policies rather than repealing them
As Washington undergoes changes, I hope that decision-makers will continue to consider the millions of dollars invested with the presumption that the tax benefits provided by the Inflation Reduction Act will continue to exist. Repealing them would put American businesses in a precarious position and send a negative signal to potential investors.
The majority of Boiseans concur that tax credits make sense when they boost our economy, reward innovation, and attract private sector investment. It’s important to remember that tax credits under the Inflation Reduction Act contribute to the reduction of huge utility projects, which in turn keeps energy prices low. Clean energy is greater than any one party and will continue to influence our economy in Idaho and around the world. The emphasis on jobs, lower costs, and securing our country’s energy future should serve as a reminder that, despite all of the divisions we face, we can still work together to shape our state’s future.
Boise and other American municipalities are unquestionably benefiting from the Inflation Reduction Act’s energy tax credits, despite its flaws. As we continue to battle for economic growth, energy independence, and the principles that make our state strong, let’s concentrate on improving policies that are effective.
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