IRA Tax Credit Tracker

House Republicans have begun drafting the legislative text for the budget bill they intend to pass through the reconciliation process. This process bypasses the Senate filibuster and allows the bill to be sent to the President’s desk with only a simple majority vote. As debate is underway, the fate of the Inflation Reduction Act’s (IRA) tax credits remains to be seen.

Some House Republicans are urging the GOP party to “take a scalpel, not a sledgehammer approach” to the IRA. Most recently on March 10, 2025, 21 House Republicans, led by Rep. Andrew Garbarino (R-N.Y.), wrote a letter to House Ways and Means Chairman Jason Smith (R-Mo.) urging him to preserve IRA energy tax credits. While specific credits were not mentioned, Representatives such as Mariannette Meeks Miller (R-W.V.) have said that “Tax incentives like the tech-neutral clean energy credits under 45Y, 45E, and the 45Q carbon sequestration credit and the 45X advanced manufacturing credit aim to strengthen manufacturing capability and reduce the engineering, procurement and construction risk that have plagued major energy projects.” Activity on the Hill is also busy as numerous and various industry associations make their case to Republicans about preserving specific IRA energy tax credits.

Below, ML Strategies is actively tracking IRA tax credit developments, updating as needed.