Statement of support for senatorial leadership on the IRA tax credits

Jon Phillips, CEO of the Global Infrastructure Investor Association said:

"We strongly support the recent leadership shown by U.S. Senators Lisa Murkowski, John Curtis, Thom Tillis, and Jerry Moran in defending tax credits established by the Inflation Reduction Act (IRA).

"These provisions—particularly the energy production and investment tax credits (ITCs and PTCs), and associated manufacturing tax credits—have become a cornerstone for unlocking long-term, private investment in U.S. energy infrastructure. Since the passage of the IRA, our members, representing over $2 trillion in global assets, have already deployed more than $17 billion in tax equity into American clean energy and infrastructure projects. This capital is fueling innovation, creating jobs, lowering energy costs, and driving economic development in both cities and rural communities by contributing to an “all-of-the-above” energy strategy.

"The Senators’ message that a wholesale repeal, or termination of individual tax credits, would “jeopardize capital allocation, long-term project planning, and job creation” resonates with investor sentiment.

"We acknowledge congressional efforts to reform and improve tax policy for the long term, but such reforms must be targeted and pragmatic. America’s infrastructure investors need clarity and consistency to deploy capital at scale and to help secure the country’s future energy needs.

"Stable, technology-neutral tax policy has helped position the U.S. as a top-tier destination for infrastructure investment. Rolling back these incentives now would stall momentum, threaten energy affordability, and undercut America’s progress on reshoring manufacturing and strengthening energy resilience.

"We commend these Senators for taking a balanced, forward-looking approach—one that protects critical private-sector investment while supporting energy security, job creation, and global competitiveness."