Energy Secretary Chris Wright on Tuesday described President Trump's sweeping energy legislation as a transformative measure that will eliminate what he termed the "Biden-era Green New Scam," marking the administration's most detailed defense yet of controversial policies that critics say will raise household energy costs.
Speaking at a White House event, Wright said the "One Big Beautiful Bill" will "get rid of these subsidies and distortions that have hurt not just our electricity market, but our broader energy markets." The legislation, currently moving through Congress, would repeal most clean energy provisions from the Inflation Reduction Act while extending Trump-era tax cuts.
Bank of America CEO Brian Moynihan joined Wright in supporting the measure, arguing that extending corporate tax cuts is essential to prevent American jobs from moving overseas. "These tax rates were meant to get the U.S. competitive on taxes on corporations," Moynihan said, warning that without the extensions, businesses would again "export business outside the United States for lower tax rate reasons."1
Wright also appeared at a Breitbart News policy discussion Tuesday focused on Trump's energy dominance agenda.2
The legislative push comes amid fierce debate over its economic impact. Energy policy analysts warn the bill could increase average household energy bills by hundreds of dollars annually by eliminating incentives for wind, solar, and battery storage.1 According to Grist, the rollback would reduce energy supply while demand increases, driving up prices.1
Senator Jack Reed of Rhode Island said the policies "will raise families' energy costs, kill jobs, and increase pollution," citing estimates that costs could rise $400 per year within a decade.2 The New York Times reported similar projections about the potential financial impact on families.2
Since his confirmation earlier this year, Wright has positioned himself as a "climate realist" who acknowledges climate change while prioritizing fossil fuel development.12 The former Liberty Energy CEO has argued that continued economic progress requires more oil, gas and coal development, calling climate policies "a powerful tool used to grow government power."1
Wright has overseen Trump's broader energy agenda, including approval of new liquefied natural gas export terminals and reversing efficiency rules for home appliances.2 The administration declared a national energy emergency in January to accelerate fossil fuel projects.3
Democrats have challenged the emergency declaration, with Senators Martin Heinrich and Tim Kaine introducing legislation to terminate what they call Trump's "sham energy emergency."3 Critics argue the administration is using crisis rhetoric to justify deregulation and environmental rollbacks.4