"Recent studies by both the Breakthrough Institute and the Cato Institute have estimated the true budgetary cost of the IRA at close to $1 trillion in its first decade and upwards of $4.7 trillion by the year 2050. Apart from being fiscally irresponsible, promoting the continued subsidization of wind, solar and battery storage projects only abets bad energy policy at the state level. Contrary to the Republican group’s claim, cutting clean energy tax credits will not 'increase utility bills the very next day.' Rather, it will do the opposite. It will help to lower energy and electricity costs for American consumers by reversing ill-conceived net-zero grid targets in blue states such as California, New Jersey and New York."

– Paul Tice, National Center for Energy Analytics