Illustration: Gabriella Turrisi/Axios
The House Budget Committee is considering a long list of IRA climate programs for repeal, including those for EVs, carbon capture and sustainable aviation fuel, according to a document obtained by Axios.
Why it matters: The policy menu, obtained by Axios' Victoria Knight, is the most detailed look yet at how House Republicans want to handle the climate law and expand oil and gas leasing in reconciliation.
What's inside: The committee estimates Republicans could get as much as $796 billion over ten years to pay for tax cuts by repealing all of the IRA's energy incentives.
- "Based on political will, there are several smaller reform options available (starting as low as $3 billion) that would repeal a smaller portion of these credits," the document says.
- Other options include rolling back roughly $4 billion in DOE Loan Programs Office money, grants for interstate electricity transmission lines and whatever is left of EPA's environmental justice grants.
- Altogether, the document estimates repealing programs under the House Energy and Commerce Committee's jurisdiction would yield up to $17.3 billion over 10 years.
It also addresses a possible repeal of tailpipe emissions standards, noting that President Trump is likely to address them via executive action but that the regulations "considerably increase the usages of the IRA's EV tax credits."
Zoom in: The document offers some additional detail on possible plans for the Natural Resources Committee, which will be at the center of GOP efforts to boost drilling on public lands.
- A reconciliation bill could bring in $160 million by restoring noncompetitive oil and gas leasing (rescinded in the IRA), it says.
- Meanwhile, expanding offshore leasing could bring in $4.2 billion, while onshore leasing could bring in $500 million.
- New leasing in ANWR would offer a more modest $45 million in 10-year savings.
- The Budget Committee also estimates the Natural Resources Committee has nearly $2 billion in IRA rescissions under its control, including money for coastal climate resilience, national parks and Bureau of Reclamation water projects.
