The House Energy and Commerce Committee released its section of the Republicans’ megabill on Sunday night, formalizing plans to cut spending and mandates from the Democrats’ 2022 climate law.
The legislation includes language to repeal unobligated dollars from EPA’s Greenhouse Gas Reduction Fund. The bill would also scrap Biden-era vehicle-emissions rules.
“The legislation would reverse the most reckless parts of the engorged climate spending in the misnamed Inflation Reduction Act, returning $6.5 billion in unspent funds. The bill would also begin refilling the dangerously low Strategic Petroleum Reserve,” Chair Brett Guthrie (R-Ky.) wrote in a Wall Street Journal op-ed hours before releasing the text.
The legislation, as expected, takes aim at the Inflation Reduction Act’s methane fee. It would also enact a new fee on natural gas export project permitting.
“Upon receipt of the application and collection of the fee, the Secretary of Energy shall deem the application in the public interest,” according to a summary.
The committee is planning to begin marking up the legislation Tuesday afternoon. It’s unclear when lawmakers will advance it.
