The Republican Budget Bill Will Hurt the U.S. Economy

The World Resources Institute states that H.R.1. will hinder U.S. clean energy leadership by phasing out wind and solar tax credits and introducing Foreign Entity of Concern (FEOC) restrictions. These measures are expected to increase electricity costs, eliminate jobs, and reduce the power system's ability to meet rising demand from AI, manufacturing, and extreme weather.

• The Republican budget bill (H.R.1.) is projected to damage the U.S. economy by increasing electricity bills, eliminating hundreds of thousands of jobs, and reducing investments in domestic manufacturing.
• Specific provisions in H.R.1., including the rapid phaseout of wind and solar tax credits and the introduction of Foreign Entity of Concern (FEOC) restrictions, make clean energy investments uncertain or unworkable.
• The bill's clean energy cuts may lead to increased brownouts and blackouts because fossil fuels alone cannot meet the surging electricity demand driven by AI, electrification, manufacturing, and heat waves.

APA

Widawsky, D. (2025). The Republican Budget Bill Will Hurt the U.S. Economy. World Resources Institute. https://www.wri.org/news/statement-republican-budget-bill-will-hurt-us-economy

Chicago

Widawsky, David. The Republican Budget Bill Will Hurt the U.S. Economy. World Resources Institute, 2025. https://www.wri.org/news/statement-republican-budget-bill-will-hurt-us-economy.

Wikipedia

{{cite press release |last1=Widawsky |first1=David |title=The Republican Budget Bill Will Hurt the U.S. Economy |publisher=World Resources Institute |date=3 July 2025 |url=https://www.wri.org/news/statement-republican-budget-bill-will-hurt-us-economy |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{widawsky2025republican, author = {Widawsky, David}, title = {{The Republican Budget Bill Will Hurt the U.S. Economy}}, publisher = {World Resources Institute}, year = {2025}, month = jul, url = {https://www.wri.org/news/statement-republican-budget-bill-will-hurt-us-economy}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }