Dear Friends and Colleagues, 

CRES has been actively engaged in Washington during a dynamic few weeks, working to shape a brighter energy future for America. Recently, the Senate Finance Committee released its initial bill text for the reconciliation package, which phases down critical energy tax provisions.  

While some progress was made from the House passed bill, there’s an opportunity to further refine this legislation to better support American energy leadership and innovation. We believe that with practical adjustments, this bill can strengthen President Trump’s vision of American energy dominance. 

Here are three fixes we think are essential: 

• Extending technology-neutral tax credits, with “commence construction” through at least 2027 to provide business certainty 

• Simplifying “FEOC” (Foreign Entity of Concern) requirements to reduce red tape 

• Restoring the hydrogen tax credit and preserving the 45V credit to support this vital sector 

You can read CRES’ full statement here. 

These changes will help keep energy affordable for families, encourage businesses to invest in transformative energy projects and position the U.S. as a global leader in the energy race. 

Lawmakers are working on a tight timeline, and CRES is collaborating closely with them to ensure these pragmatic solutions are adopted. By maintaining America’s competitive edge, we can outpace global competitors, drive economic growth and secure a sustainable energy future. 

WHAT CRES IS HEARING

WHAT CRES IS SAYING

About Clean Energy Tax Credit Repeals in the Senate Reconciliation Package… 
“While progress was made in the draft Senate Finance Committee text, there is no doubt the impact of this legislation will negatively harm our nation’s energy independence if enacted. Specifically, the bureaucratic red tape, phaseout timelines and elimination of the hydrogen tax credit remain our top concerns. If enacted, Americans will pay more for energy, businesses will cancel key energy projects, and our nation will fall behind in the global energy race.” – CRES President Heather Reams in a statement. 

WHAT CRES IS DOING

CRES’ Vice President of Communications, Mary Collins Howell, and Director of Communications, Juan Ayala, attended the Reuters Global Energy Transition Conference in New York City. Bringing together industry leaders and key stakeholders, this conference is connecting diverse leaders to discuss the future of all forms of energy and how to make America more resilient.

WHAT CRES IS WRITING

Op-Ed: Clean Energy Tax Credits are an Economic Boom for North Carolina 
CRES President Heather Reams and Chief Executive Officer and Founder of Leyline Renewable Capital, Erik Lensch, penned an op-ed in NC Political News describing how important key tax credits are for the Tarheel State. Highlighting key economic benefits, Reams and Lensch named numerous job opportunities across areas including Research Triangle Park and Kings Mountain. In closing, the op-ed also highlights U.S. Sen. Thom Tillis (R-N.C.) and his vocal support for maintaining tax credits that contribute to North Carolina’s economy. 

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CRES Tax Credit Blog Series: 45X Manufacturing Production Credit 
In partnership with GE Vernova, Citizens for Responsible Energy Solutions (CRES) released a blog related to the 45X Advanced Manufacturing Production Credit. This blog focused on the work of GE Vernova and the work they’re doing across all energy sources and the grid – offering gas, nuclear, wind, steam, and hydro power technology, as well as grid resiliency equipment, solutions, software, solar and storage. GE Vernova is the only U.S. headquartered energy manufacturer of advanced technology and cutting-edge equipment across all energy sources and the grid. You can read more here.  

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CRES Tax Credit Blog Series: 45Y and 48E Technology-Neutral and 45X Advanced Manufacturing Credits 
In partnership with Invenergy, Citizens for Responsible Energy Solutions (CRES) released the following blog related to the 45Y and 48E technology-neutral and 45X advanced manufacturing tax credit. This blog focused on the Invenergy’s technological priorities and how they are utilizing tax credits that are at stake of being cut in the reconciliation bill. Since 2020, Invenergy has nearly doubled their workforce and helped major customers meet their energy needs while strengthening grid reliability. Invenergy also talked about their economic impact and investments ($436 million) in land costs, lease payments, state and local taxes, and project-generated wages and benefits across American communities. You can read more here.   

WHAT CRES IS READING

 $15 billion clean energy pullback – Axios

House Republican says Senate energy tax changes ‘fail to meet the moment’ – E&E News  

Senate Finance loosens some IRA energy tax credit rollbacks – Axios 

Republican efforts to cut green energy credits meets resistance in the Senate – NPR 

Summer power bills are going up, federal government warns – Utility Dive