ICYMI: Business Leaders Say Repealing the Clean Energy Plan Would Lead to Mass Layoffs, Major Blow to Business
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WASHINGTON, D.C. – Today, E2 released a survey revealing that clean energy industry leaders, including those whose businesses have been established for years or decades, agree: the Biden-Harris administration’s clean energy investments have boosted business and millions of jobs. In contrast, Trump’s plan to repeal the clean energy plan would cause sweeping devastation, lost business, offshoring, and mass layoffs. These effects would go well beyond new investments and projects announced since the passage of the clean energy plan in 2022, harming businesses that employ millions of Americans across the country.
E2: SURVEY: Businesses on Impact of Arrested IRA Investments
Key findings from the report include:
- Repealing the clean energy plan would hurt business and revenue: more than half (53 percent) of firms said they would lose business or revenue as a direct result of a clean energy plan repeal.
- Businesses would have to lay off employees and cut wages: about 21 percent of firms said they would have to lay off workers if the clean energy plan is repealed.
- The clean energy plan is very important to business growth: about 85 percent of respondents said the IRA was “very important” or “somewhat important” to growth, and nearly 60 percent of respondents have worked on, produced goods, or offered services related to clean energy projects directly impacted or funded by the IRA.
While business leaders laud the clean energy plan as fundamental to their growth, congressional Republicans have voted against these investments more than 50 times. Speaker Mike Johnson has repeatedly promised to repeal the clean energy plan, threatening to pull the rug out from under this booming industry and destroying hundreds of thousands of jobs. E2’s survey found that repeal would drastically scale back public investment and affect private investor confidence in the industry. Without the stability of the clean energy plan, some business leaders report they would have to move their business operations to another country. The impact of repeal would be felt most strongly in rural areas, which have benefited from the biggest clean energy boom in the country.