ICYMI: Iowans Household Energy Costs Could Increase by $550 Annually Under Republican’s Budget Cuts

Iowa’s Republican Lawmakers in Congress Voted for the Cuts as Part of the Big, Bad Budget-Busting Bill

Washington D.C. – A bill that Mariannette Miller-Meeks, Zach Nunn, Randy Feenstra and Ashley Hinson voted for could increase Iowa household energy costs by up to $550 annually.

The cuts, which were made in the Republican-backed big, bad budget-busting bill could jeopardize billions in Iowa projects, which is terrible news in a state that is already 49th in economic growth.

According to the Des Moines Register: 

• Iowa gets about 60 percent of its energy from wind, solar and other renewable energy—the largest share in the U.S.

  • Iowa is also home to three renewable energy equipment manufacturers.

  • Shuttered plants for windmill blade maker TPI Composites in Newton and Nordex Group in West Branch are both looking to reopen this year – employing hundreds of workers.

• Cutting the clean energy tax credits, created in the 2022 Inflation Reduction Act, could result in Iowa losing 14,000 jobs over the next decade as energy supplies struggle to keep pace with demand, even with increased production of fossil fuels.

• Fossil fuel costs are expected to climb with increased demand and reduced competition from lower-cost wind and solar energy.

  • By 2030, Iowans would pay $210 more each year for energy to power homes and vehicles and by 2035, added costs would climb 162% to $550 each year.

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