American Energy Independence and Affordability Act

The American Energy Independence and Affordability Act aims to reinstate a wide range of renewable energy and energy-efficiency tax incentives. The proposal specifically seeks to restore provisions originally established by the 2022 Inflation Reduction Act that were subsequently cut or eliminated by later legislation. If enacted, the bill would bring back full tax credits for clean electricity production and investments in wind, solar, and other zero-emission power sources.

For everyday citizens, the bill proposes to lower household costs by extending tax credits for energy-efficient home improvements and new energy-efficient home construction through 2032. It also aims to restore consumer tax credits for purchasing clean vehicles, such as electric cars. Additionally, the legislation would provide tax deductions for energy-efficient commercial buildings and support domestic manufacturing of clean energy technologies, which proponents argue would create jobs and reduce long-term utility bills.