Divestment Truth

On Monday, June 23rd a coalition of twenty-six individuals and organizations dedicated to preserving free markets and putting taxpayers and consumers first, led by the American Energy Alliance, sent a letter to President Trump urging him to encourage Congress to uphold his campaign commitment to eliminate all remaining energy subsidies from the Inflation Reduction Act (IRA), which he aptly has called the “Green New Scam.” The text of the letter and list of signers is available below.

The Inflation Reduction Act of 2022 (IRA), President Biden’s signature climate bill, passed solely by Democrats, contains lucrative, essentially uncapped subsidies for wind and solar-generated power. Under current law, the tax credits phase out over four years, starting in either 2032 or when the U.S. power sector’s greenhouse gas emissions fall to a quarter of their 2022 levels — whichever comes later. An essentially uncapped phase-out defies the original purpose of tax credits,...

The Senate Finance Committee released its draft legislation of the reconciliation bill on Monday and, although the main structure of the bill remains the same as the house version, there are some notable differences in some of its energy provisions. Unfortunately, some of these differences are steps backward in that they replace the House bill’s strict repeals with softer language that allows companies to keep receiving tax credits past the end of President Trump’s time in office....

Despite being the seventh-largest producer of crude oil and third in refining capacity, California continues to demonstrate a desire for self-destruction with its anti-oil and gas stance. California’s aggressive push for destructive energy policies has already resulted in the closure of oil refineries and even the promised relocation of oil major Chevron to friendlier Houston Texas. The closure of refineries statewide will put pressure on California’s ability to provide gasoline to its...

Early Thursday morning, the House passed its version of the Republican reconciliation legislation package. The two main goals of the legislation are extending the 2017 Tax Cuts and Jobs Act and rolling back the 2022 Inflation Reduction Act (IRA). Republicans made a lot of changes over the past week, with conservative members of the House achieving important changes to the bill.  Late changes accelerated some of the energy subsidy phase-outs, leaving a package that, while far from perfect,...

The American Energy Alliance supports H.J. Res. 87 providing for congressional disapproval of the Clean Air Act waiver for California's Advance Clean Trucks regulation; H.J. Res. 88 providing for congressional disapproval of the CAA waiver for California's Advanced Clean Cars II regulation; and H.J. Res. 89 providing for congressional disapproval of the CAA waiver for California's regulations on medium to heavy duty trucks and other engines.

California's special waiver from certain Clean...

The Republican controlled Congress is now considering a plan to fully repeal President Biden's poorly named Inflation Reduction Act (IRA) of 2022. There are many reasons to fully repeal the IRA; however, the "Green New Deal" elements are especially troubling.

The IRA's energy subsidies are projected to cost taxpayers between $936 billion and $1.97 trillion over the next decade, with potential liabilities reaching up to $4.7 trillion by 2050. This enormous price tag makes a promising...

In 2022, President Biden and a Democratic Congress passed the Inflation Reduction Act (IRA). No Republican voted for it in the House or the Senate. The IRA should be repealed because: 

Excessive Fiscal Burden

• The IRA's energy subsidies are projected to cost taxpayers between $936 billion and $1.97 trillion over the next decade, with potential liabilities reaching up to $4.7 trillion by 2050. 
• This is far more than the CBO’s initial projections . The CBO’s initial score for the...

On April 30th, 2025 the American Energy Alliance, along with 31 other market advocacy organizations, sent a letter to all members of Congress calling on them to repeal all Green New Deal inspired subsidies passed in Biden's Inflation Reduction Act. The text of the letter is available below.

Dear Members of Congress,

We, the undersigned organizations, are writing in support of repealing the Inflation Reduction Act’s (IRA)  green new deal subsidies to pay for tax...

The American Energy Alliance supports H.J. Res. 87 providing for congressional disapproval of the Clean Air Act waiver for California's Advance Clean Trucks regulation; H.J. Res. 88 providing for congressional disapproval of the CAA waiver for California's Advanced Clean Cars II regulation; and  H.J. Res. 89 providing for congressional disapproval of the CAA waiver for California's regulations on medium to heavy duty trucks and other engines.

California's special waiver from certain...