Energy Innovation used its open-source, peer-reviewed Energy Policy Simulator to analyze the potential economic, employment, and other effects of repealing the Inflation Reduction Act (IRA). Fully repealing the IRA would by 2035 decrease GDP by $250 billion, result in 1.3 million fewer jobs, and burden households with $35 billion in increased spending on energy, or $240 per household. Repealing the IRA would reverse the positive economic stimulus the law is already generating, which includes over $520 billion in new clean investment and more than 334,000 new jobs created in the two years since the law’s passage.  

*This analysis was originally posted in December of 2024, and then was updated in March 2025 using the most up-to-date EPS platform.