Over $20 billion in investments and 20,000 new jobs in Indiana may be at risk if the U.S. Senate eliminates clean energy tax credits in the “Big Beautiful Bill.” The credits, created in the 2022 Inflation Reduction Act, have spurred $400 billion in investments and 621,000 new jobs nationwide, and put the U.S. on a path to compete with China in clean energy manufacturing. These credits have incentivized corporations like Samsung, GM, Toyota, Stellantis, Entek and Nucor, to make major investments in Indiana for production of batteries, EV’s and utility structures and chargers.
Beyond manufacturing, if the tax credits are repealed, Indiana stands to lose dozens of solar projects totaling 21GW of capacity. These projects would drive millions in property tax revenues for local counties, reduce air pollution and rein in electricity costs, which are rising along with demand. It’s estimated a typical American family will spend $400 more annually on electricity if the credits are canceled.
Indiana and the U.S. cannot afford to let these projects slip away. Today, China dominates 60% or more of the world’s solar panel, wind turbine and EV production, so American companies are way too dependent upon technology and components from China. National security, our country’s economic leadership and the future of multiple American industries, including automotive, demand that we build our manufacturing muscle in these areas.
Join me in urging Senators Young and Banks to protect these tax credits in the “Big Beautiful Bill.”
John Smillie
Crawfordsville
