Protecting America’s Energy Future: Why Congress Must Preserve All-of-the-Above Energy Tax Credits |

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Protecting America’s Energy Future: Why Congress Must Preserve All-of-the-Above Energy Tax Credits

Iowans benefit from an all-of-the-above energy policy. Our farmers, families, local community, economy and national security depend on it. As Congress debates changes to energy investment tax credits, it’s critical to continue investing in American-made energy—including wind, solar, nuclear, biofuels, and battery storage. Eliminating all-of-the-above energy tax incentives would drive up costs, kill jobs, and hamper economic growth.

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Higher Electricity Rates Hurt Iowa Families & Businesses

Without all-of-the-above energy tax credits, electricity costs will spike—and Iowa families will be among the hardest hit.

Electric bills could increase by $83–$152 per year.

Customer Electricity Cost Increases if Congress Removes Energy Investment Credits

Source: “Brattle Group Economic Analysis”

Higher energy prices don’t just hurt households — they cripple businesses, stall investment, and slow economic growth.

Rising Energy Costs = Job Losses & Economic Decline

Independent analysis shows that loss of energy investment tax credits will result in:

14% increase in the cost of electricity
3.8 million job-years lost
$820 billion in lost economic activity
$510 billion drop in GDP (Gross Domestic Product)
$250 billion in investments disappear – hitting rural communities the most
$270 billion reduction in consumer spending

The cost of generating electricity could increase by 14%
3.8 million job-years lost

$820 billion in lost economic activity
$510 billion drop in GDP (Gross Domestic Product)

$250 billion in investments disappear – hitting rural communities the most
$270 billion reduction in consumer spending

That’s a total negative impact of $820 billion. How much is $820 billion? If you spent $1,000 every second, it would take 26 years to spend it all!

Our Economic Success Depends on More Energy, Not Less

Economic expansion is driving record energy demand. To keep America’s economy running, we need more power generation now.

Natural gas and nuclear alone cannot meet America’s growing energy demand—we need a diversified, all-of-the-above approach

Renewables and storage provide low-cost, on-demand energy and can be deployed quickly.
Natural gas development has slowed, with no new large-scale plants expected before 2030.

Nuclear energy has immense promise – but long lead times, with small modular reactors not expected until 2035 or beyond.

Source: “Brattle Group Economic Analysis”

Congress Must Act to Protect Energy Affordability & Security

America’s economic future depends on a strong, stable, and affordable energy supply. Congress must preserve energy tax incentives to:

Keep electricity rates low for families and businesses
Support job growth and rural investment
Ensure reliable, American-made energy for a growing economy

Congress Must Protect America’s Energy Future.

They must support all-of-the-above energy tax incentives!