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Iowa Alternative Energy Sector Stands to Lose Tax Incentives in Budget Bill

Iowa stands to lose tax incentives created in the Inflation Reduction Act which have helped the state invest in alternative energy and manufacturing jobs.

The Trump administration is scaling back clean energy investments, which would affect several sectors of the Iowa economy. Prompted by federal tax incentives, Iowa has leveraged more than $4.2 billion in private investment in 60 alternative energy facilities. Iowa's sales of zero-emission vehicles could drop by at least 22% if the bill is passed.

Daniel O'Brien, senior modeling analyst for the nonpartisan think tank Energy Innovation, said the current provisions are crucial to clean vehicle sales and the associated manufacturing jobs accompanying them.

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