THOMPSON, NEAL, WAYS & MEANS DEMOCRATS INTRODUCE BILL TO RESTORE HISTORIC RENEWABLE ENERGY INVESTMENTS

Washington, D.C. - Today, Ranking Member of the House Ways and Means Subcommittee on Tax Policy Mike Thompson (CA-04), Ranking Member of the House Ways and Means Committee Richard E. Neal (MA-01), and the Democratic membership of the Ways & Means Committee announced the introduction of H.R. 5862, the Energy Independence and Affordability Act (EIAA). The EIAA would restore Rep. Thompson's historic renewable energy tax incentives passed in the 2022 Inflation Reduction Act. In July, the President signed the Big, Ugly Bill into law eliminating these wildly successful incentives.

Watch a video of the press conference here.

"I haven't met anyone in our community who said, 'I wish Congress would raise my energy bills,'" said Rep. Thompson. "But that's exactly what happened when Congressional Republicans gutted the clean energy tax incentives I created. These investments were fully paid for, they lowered costs, they created jobs, and they positioned America to lead in the global clean energy economy. We can't afford to fall behind-not to China, and not on the fight against climate change. That's why I'm leading the fight now to restore these critical climate provisions."

Thompson was joined at a press conference by Ranking Member Richard E. Neal and Representatives Terri Sewell and Steven Horsford.

"Families are struggling under Trump's economy, and Republican cuts to clean energy tax credits mean higher costs for everyone and stunting the green energy economy we've been working so hard to build," said Ranking Member Richard E. Neal. "The American Energy Independence and Affordability Act means restoring the great work of our green energy leader, Tax Subcommittee Ranking Member Mike Thompson, and supercharging high-paying jobs in our communities, lowering household energy costs, and giving us a fighting chance to save our climate. I am grateful for his leadership championing this critical legislation, and urge my Republican colleagues to join us in doing right for the people."

The American Energy Independence and Affordability Act restores key provisions from the Inflation Reduction Act to ensure America continues leading the transition to clean, affordable, and reliable energy.

What the bill does:

• Restores the full clean electricity production and investment tax credits for wind, solar, and other zero-emission power sources.
• Extends incentives for energy efficient homes and commercial buildings, helping families and businesses cut utility bills through modern, efficient technologies.
• Reinstates clean-vehicle tax credits for consumers and businesses to accelerate America's transition to electric and zero-emission vehicles.
• Supports domestic manufacturing of clean energy components and strengthens U.S. supply chains.
• Extends the clean hydrogen production credit, advancing next-generation clean fuel production.

Families are already feeling the pain from high energy costs, supply-chain shocks caused by reckless tariffs, and rising utility bills. This legislation delivers real relief by restoring incentives that make homes more efficient, lower energy bills, support clean and renewable power, and expand access to affordable clean vehicles. Restoring these incentives will strengthen our energy independence, lower utility bills, boost domestic production, and create thousands of good-paying jobs here at home.

Endorsing organizations include: American Council for an Energy-Efficient Economy; Sonoma Clean Power Authority; Citizens Climate Lobby; Sierra Club; Natural Resources Defense Council; Ava Community Energy (Local Bay Area); Napa Climate Now!, a 350 Bay Area Group; City of Napa; City of St. Helena; City of Calistoga; and League of Conservation Voters.

"This legislation is exactly what cash-strapped homeowners and domestic manufacturers need - and need today," said Jackie Wong, Senior Vice President, Climate & Energy at NRDC. "The Republicans' tax bill slashed this support for clean energy so they could hand out a tax cut to the richest Americans. That means higher bills for consumers and fewer opportunities for workers. Restoring these incentives will help shore up domestic investments while keeping utility bills in check."

"Congress made the growing energy affordability crisis worse for families, businesses, and communities this year when it passed legislation to terminate important energy- and cost-saving tax incentives," said Alexander Ratner, Senior Federal Policy Counsel for the American Council for an Energy-Efficient Economy (ACEEE). "Representative Mike Thompson's new bill would make life less expensive for Americans by restoring crucial tax incentives. The Energy Independence and Affordability Act would lower monthly energy bills, help build new homes with lower costs, and reduce growing strain on the electric grid."

"The Sonoma Clean Power Authority is proud to support this urgently needed legislation, and thanks Congressman Thompson for his continued leadership in confronting the defining challenge of our time: the climate crisis," said Geof Syphers, CEO of the Sonoma Clean Power Authority. "We urge Congress to enact this proposal without delay."

"Sierra Club is proud to endorse Rep. Mike Thompson's bill, the American Energy Independence and Affordability Act, which restores popular key clean energy tax credits that were eliminated under the Trump administration's Big Ugly Bill," said Mary Davison, Sierra Club Redwood Chapter Political Chair. "The American Energy Independence and Affordability Act will move the U.S. toward a better future by encouraging the development of clean energy, putting more EVs on the roadways, and increasing energy efficiency. It will also help to lower costs, create jobs, strengthen the American economy, and support global U.S. leadership in clean energy."

"This bill is exactly what is needed to protect America's leadership in renewable energy," said Chris Benz of Napa Climate NOW!, a 350 Bay Area group. "Renewable energy is now the cheapest and least polluting source of electricity, and it should be available to all Americans everywhere."

"We applaud Congressman Mike Thompson for his leadership on the American Clean Energy Independence and Affordability Act," said the League of Conservation Voters Vice President of Federal Policy Matthew Davis. "This is a critical step to restoring clean energy incentives that lower energy costs for families and businesses, strengthen energy security, create jobs, and boost U.S. manufacturing. At a time when congressional Republicans have shut down the government and driven up electricity prices 10% this year, Rep. Thompson and other Democrats are doing the work to advance clean, affordable, and reliable energy."

The Energy Independence and Affordability Act is co-sponsored by 114 Democratic members of Congress. Click here for the full bill text and hereto see the list of co-sponsors.