August 12,2022

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Ashley Schapitl (202) 224-4515 

Wyden Statement on New Rhodium Group Report Showing Benefits of Clean Energy Tax Package

Washington, D.C.— Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement on the new Rhodium Group report: “A Turning Point for US Climate Progress: Assessing the Climate and Clean Energy Provisions in the Inflation Reduction Act:”

“The Rhodium Group’s new report again confirms the Inflation Reduction Act is a game changer in cutting carbon emissions and energy costs. Importantly, the report notes that emissions in the power sector will decline by up to 80 percent. The power sector will see the largest emissions reductions—this is thanks to our emissions-based, technology-neutral tax credits, which will be available to public power for the first time. In addition, carbon capture capacity will increase by up to 40 percent thanks to our incentives. Investing in carbon capture is an important piece of the puzzle in reducing emissions in the industrial sector. All in all, this analysis again shows our clean energy package is a win-win.”