Wyden Statement on Treasury Department’s Finalized Direct Pay Rules for IRA Clean Energy and Chips Tax Credits
Washington, D.C. — Senate Finance Committee Chair Ron Wyden, D-Ore., released the following statement today on the Treasury Department’s finalized regulations regarding “direct pay” eligibility for tax credits for IRA clean energy projects and CHIPS Act semiconductor manufacturing:
“When Congress passed the Inflation Reduction Act and the CHIPS Act, our goal was to unleash the biggest possible boom in clean energy, clean transportation, and high-tech manufacturing here in the United States. Green-lighting what’s known as “direct pay” is a key part of that process because it ensures that nonprofits, states, cities and tribes aren’t getting locked out of the tax incentives driving this economy-wide transformation. The rules finalized today are going to go a long way toward reducing carbon emissions and promoting domestic chip manufacturing. I’m going to continue working to ensure this program reaches its full potential and protect it from Republicans who are trying to undercut the IRA.”
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