Yellen Warns of Job Losses from Potential Repeal of Biden’s Clean Energy Incentives

Treasury Secretary Janet Yellen warns North Carolina voters about job losses if Republicans weaken Biden's law supporting investments in manufacturing and clean energy. Highlighting benefits from tax incentives, she emphasizes the risks of rollback, such as higher costs and lost investments, which would benefit China.

Treasury Secretary Janet Yellen is cautioning voters in North Carolina about potential job losses should Republicans weaken a key Biden administration law that promotes investments in manufacturing and clean energy.

During a scheduled address at a Raleigh community college, Yellen asserted that North Carolina, a state dominated by Republicans, greatly benefits from tax incentives under the 2022 Inflation Reduction Act. She characterized eliminating these incentives as a "historic mistake."

Yellen cited Treasury data indicating that 90,000 households in North Carolina have claimed substantial residential clean energy and energy efficiency credits. Rolling back these incentives, she warned, could raise costs for working families, jeopardize significant manufacturing investments, and ultimately help foreign competitors like China gain an edge.

(With inputs from agencies.)