The Native CDFI Network (NCN) invites all Native CDFIs and other key partners to sign on to a joint letter to U.S. Senate leadership regarding the Senate’s pending deliberations of the One Big Beautiful Bill Act (H.R.1), the budget reconciliation bill that passed the House of Representatives earlier this month. The letter requests the Senate make key changes to the House bill to retain key renewable and clean electricity investment tax credits and elective pay as established in amendments to the tax code under the Inflation Reduction Act (IRA), which are critical to maximizing capital stack opportunities for tribal clean energy projects slated to be financed in part by Native CDFIs. Notable among these requested changes are:
- re-inserting a reasonable phase-out period for the clean electricity investment tax credit, starting in 2030 and ending in 2033;
- removing the requirement to begin construction within 60 days of enactment;
- removing the provision rescinding unobligated balances from the DOE Office of Indian Energy or Tribal Energy Loan Guarantee program (Congress just appropriated these funds in March 2025 and it is patently unfair to rescind them no); and
- clarifying that despite the repeal and rescission of funding of IRA programs – such as the Greenhouse Gas Reduction fund, the Climate Pollution Reduction Grant, and the Environmental and Climate Justice Block Grant – the rescissions should be stayed pending the outcome of litigation related to those programs. For more information on support for the IRA, click here.
NCN and a number of concerned Tribal Nations and intertribal organizations have already signed on to the letter, which will be strengthened greatly by widespread support from Native CDFIs, who are among the primary investors in Indian Country renewable and clean energy development.
NCN also invites Native CDFIs to customize and send this individual template letter to Senate leadership and their respective Senate delegations.
The deadline for organizations to sign on to the joint letter is 4:00 p.m. ET on Wednesday, June 4.
To read the sign-on letter, please click here.
To sign on to the letter, click here.
To download the template letter, click here.