Bloomberg Law
Jan. 20, 2023, 9:55 PM

Treasury Says GOP’s Attack on IRS Risks Clean-Energy Credits (1)

Ari Natter
Ari Natter
Bloomberg News

The Biden administration is privately warning about Republican efforts to cut the Internal Revenue Service’s budget, arguing the effort could harm the agency’s efforts to disseminate the historic $270 billion in clean-energy tax credits Democrats passed last year as part of the Inflation Reduction Act.

Treasury Department officials, in a zoom meeting Thursday with environmental and clean energy groups, alluded that legislation, which would rescind nearly $80 billion from the IRS and was the first bill passed by the House’s new Republican majority, could hamstring the agency’s abilities to administer the record funding for tax credits, according to two people ...

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