(The Center Square) – Arizona Gov. Katie Hobbs is part of a group warning that the congressional reconciliation bill will harm jobs and investments in Arizona.
The caution comes after the Arizona Commerce Authority’s new figures show the state could lose 69,000 jobs and $58 billion in investments if the bill does away with tax credits from the Biden-era Inflation Reduction Act.
Since IRA’s passage, “Arizona’s economy has attracted 134 existing, potential, and announced projects that would be affected by the repeal of federal tax credits,” said the Democratic governor in a news release. “These projects together represent more than 69,000 existing and potential new jobs, and $58 billion in capital investment to grow the state’s advanced manufacturing, energy, technology, and infrastructure industries.”
Hobbs added that the “federal government should be working with us in furthering Arizona’s economic success” instead of undermining the growth in Arizona.
U.S. Sens. Mark Kelly and Ruben Gallego, both Democrats from Arizona, agree with Hobbs.
“We’ve benefitted more than other states from the Inflation Reduction Act’s renewable energy tax credits,” said Kelly. “We see it in the big solar and battery storage projects bringing low-cost, reliable power to the grid and in the dozens of companies who have invested to bring manufacturing here, creating thousands of good-paying jobs.”
Gallego said President Donald Trump and House Republicans promised to make life affordable. But instead, Gallego said, the GOP is cutting jobs and hurting people.
“Targeted tax credits supporting domestic production and clean energy innovation have helped accelerate private-sector growth across the state,” said Danny Seiden, president and CEO of the Arizona Chamber of Commerce & Industry. “Preserving them is critical to sustaining Arizona’s manufacturing momentum and keeping us at the forefront of next-generation industries.”
The Office of the Governor said 134 economic development projects have been attracted statewide because of the IRA. Meanwhile, Arizona is ranked in the top five among states benefiting from IRA investments.
