SHOT/CHASER: Energy Costs Are Rising and the GOP Wants to Cut Energy Production

Washington, D.C. –  Household electric bills are rising faster than inflation, and Republicans in Congress are pushing a proposal that will send them higher, raising costs for working families already struggling to make ends meet. 

SHOT:

• Wall Street Journal: Your Electric Bill Is Rising Faster Than Inflation. Here’s Why. “America’s power bills are rising even faster than the cost of groceries…the higher bills are putting a strain on the wallets of consumers who are already stretched thin by rising costs for food, shelter and insurance.”

CHASER: 

• New York Times: Electricity Prices Are Surging. The G.O.P. Megabill Could Push Them Higher. “The combination of a data center boom, rising gas exports and cuts to clean energy tax breaks could spike American energy bills, analysts say.”

• Reuters: Trump tax bill squeeze on clean power could raise energy bills, “Faster expiry of tax credits and new foreign entity rules in Trump’s proposed tax bill would derail a swathe of clean power projects and could push up customer bills in the long term, industry experts said.”

• The Washington Post: GOP bill could worsen inflation and lead to financial crisis, economists warn.  “The boost to the national debt from President Donald Trump’s sweeping tax bill could add fresh fuel to inflation just as his tariff policies are already pushing prices up, mainstream economists are warning.”

• WBUR: How Trump’s spending bill could up your utility bills. “The One Big, Beautiful Bill Act, currently being deliberated in Congress, includes efforts to roll back a lot of the Inflation Reduction Act. Such moves could see household energy costs go up by hundreds of dollars per year.”
• Fast Company: Trump’s budget would slash 830,000 jobs and raise energy costs by more than $16 billion. “For individual households, that could mean a $110 increase to electricity costs per year, beginning in 2026, which could then rise to $290 more in annual energy costs per household by 2035. The GOP bill will drive up household costs for Americans in other ways, too.”