Speaker McCarthy and MAGA House Republicans are Willing to Crash the Economy to Raise Energy Costs and Cut Clean Energy Incentives

WASHINGTON, D.C. – Since last fall, MAGA House Republicans have plotted to undo the cost-saving progress made by President Biden and Congressional Democrats. Time and time again, MAGA House Republicans have made clear that they will stop at nothing to raise energy costs and cut clean energy incentives found in the Biden Administration’s climate plan—including crashing our economy. The brinkmanship continued this morning with Speaker McCarthy’s speech on Wall Street.

“Let’s be clear: Speaker McCarthy and MAGA House Republicans’ are willing to crash the economy just so they can raise energy costs for working families, and give tax breaks to Big Oil,” said Eden Alem, Climate Power spokesperson. “Last year, Big Oil made a whopping $400 billion in profits, and instead of lowering prices at the pump, they rewarded their shareholders and CEOs. MAGA House Republicans will stop at nothing, even holding the global economy hostage, in order to boost Big Oil’s profits—at working families expense.” 

MAGA House Republicans’ pro-polluter plan isn’t a surprise. In the 2022 election cycle, API and oil and gas companies donated a total of $38.3 million to Republican congressional candidates. During his career, Speaker Kevin McCarthy has received $2,697,779 in campaign funding from oil and gas, making him the number one House recipient of Big Oil’s campaign cash.  

Meanwhile, the Biden administration’s climate plan helps lower energy costs for working families. The clean energy incentives found in the climate plan add up to as much as $14,000 per family—and turbocharge our clean energy economy, which overwhelmingly benefit red states and districts