Major Business Groups Plan to Defend Biden’s Climate Law Despite Past Opposition

Washington’s leading business lobby groups, the U.S. Chamber of Commerce and the American Petroleum Institute, are prepared to defend parts of President Biden’s climate law, the Inflation Reduction Act, if Republicans regain the White House.

Despite previously opposing the Inflation Reduction Act, these groups now support its tax breaks for clean energy technologies.

Business interests, including oil companies, are particularly interested in provisions for hydrogen fuel production and carbon capture.

The groups’ stance could clash with a potential Trump administration’s plans to roll back Biden’s climate policies.

Key quote:

“Business is going to defend the Inflation Reduction Act.”

— Christopher Guith, senior vice president at the Chamber’s Global Energy Institute

Why this matters:

The shifting alliances highlight the complex dynamics in U.S. energy policy, where economic interests may drive unexpected support for climate initiatives. This could influence future legislative battles and shape the country’s transition to cleaner energy. 05-29-24

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