WASHINGTON, DC— Today Energy and Commerce Committee Ranking Member Henry A. Waxman released a memo detailing cuts to key energy programs in the House Republican budget, authored by Rep. Paul Ryan, now the nominee for vice president on the Republican presidential ticket. The Ryan budget, which passed the House earlier this year with no Democratic support, would cut billions of dollars in funding for development of clean energy and eliminate programs that have helped support over 60,000 jobs.
“The Ryan budget would reverse progress we have made to advance clean energy technologies,” said Rep. Waxman. “By cutting clean energy initiatives and jobs, while continuing to give billions of dollars in subsidies to oil and gas companies, the Ryan proposal would undermine American innovation and surrender the clean energy market to China. That is not what the American people need.”
The memo highlights five areas in which the Ryan budget would have a significant impact on clean energy programs: (1) it reduces support for energy efficiency and renewable energy initiatives; (2) it halts the Advanced Technology Vehicle Manufacturing (ATVM) Loan Program; (3) it removes funding for loan guarantees for energy efficiency and renewable energy projects; (4) it eliminates support for green transmission projects; and (5) it maintains nearly $40 billion in tax breaks for oil and gas companies.
The memo is available online here