Four Republican US senators back Biden-era energy tax credits

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(Reuters) -Four Republican senators are asking Congressional leadership to preserve energy tax credits included in the Biden-era Inflation Reduction Act in the impending budget reconciliation bill, according to a letter circulated on Thursday.

In the April 9 letter to Senate Majority Leader John Thune, the four senators said repealing the tax credits would disrupt investment and harm businesses and jobs.

“Our country is blessed with abundant natural resources and an entrepreneurial spirit that uniquely positions us to power both our economy and the world—enabling U.S. leadership in innovation, energy production, and manufacturing alike,” the letter said. “Many of the investments that make this possible are enabled by current tax provisions, including some from the Inflation Reduction Act.”

The letter was signed by Senators Lisa Murkowski of Alaska, John Curtis of Utah, Jerry Moran of Kansas and Thom Tillis of North Carolina.

The letter came a month after a similar letter by 21 Republicans in the U.S. House of Representatives urged Congressional leaders and the White House to protect certain clean energy tax credits despite President Donald Trump’s pledge to repeal the IRA’s climate-related measures.

The House passed a budget plan on Thursday that will allow it to bypass Democratic opposition and pass tax cut legislation along party lines later this year. But lawmakers must still hammer out the details of how to pay for $5 trillion in tax cuts.

“We believe the final reconciliation bill can support smart policies that enable private sector investment in domestic energy to help meet future U.S. energy needs and strengthen the global competitiveness of American companies,” the letter said.

(Reporting by Nichola Groom; Editing by Leslie Adler)