What Happens if Congress Fails to Support an All-of-the-Above Energy Tax Code?
Higher Costs, Lost Jobs and a Depressed Economy
Hoosiers support, and have benefited from, an all-of-the-above energy economy. A tax code supporting an expansive mix of energy sources has resulted in thousands of good-paying Hoosier jobs and millions of dollars invested in new manufacturing capability.
Hoosiers will be hurt if Congress fails to continue America’s all-of-the-above energy tax code. That’s according to a new report from The Brattle Group, “A Wide Array of Resources is Needed to Meet Growing U.S. Energy Demand,” shows that failure to maintain the all-American energy tax code will cost Hoosiers more, wipe out jobs and slow our economy.
Read on to learn more about the findings of the report.
Higher Electricity Rates Hurt Hoosier Families & Businesses
Without all-of-the-above energy tax code, electricity bills will rise—and Indiana families will feel the impact.
1. The cost of generating electricity could increase by 14% and be passed on to Hoosiers.
2. Household electric bills could increase by $83–$152 per year.
3. Higher energy costs don’t just strain family budgets—they hinder business growth, discourage investment, and slow down economic progress.
Higher Energy Prices = Job Losses & Economic Setbacks
America could lose the equivalent of 3.8 million full-time jobs.
$250 billion in lost investments, disproportionately affecting rural communities
A $510 billion decline in the Gross Domestic Product (GDP)
A $270 billion drop in consumer spending. To put that in perspective:
$820 billion in lost economic activity
We Need All Types of Energy Now
Economic growth is pushing energy demand to record highs. To sustain our industries and workforce, we need more power generation now.
Natural gas and nuclear alone cannot meet America’s expanding energy needs—we need a balanced, all-of-the-above energy mix.
Wind, solar and battery storage deliver cost-effective, reliable energy that can be quickly deployed.
Natural gas development is slowing, with no major new plants expected until after 2030.
Nuclear energy has potential, but small modular reactors won’t be widely available until at least 2035.
Congress Must Take Action to Keep Energy Affordable & Reliable
America’s economic future depends on a stable, affordable energy supply. Congress must maintain the All-of-the-Above Energy Tax Code to:
Keep electricity rates low for Hoosier families and businesses
Support job creation and rural economic growth
Ensure a dependable, American-made energy supply for a thriving economy
Congress must act now to secure Indiana’s energy future by preserving the all-of-the-above energy tax code!