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Tax bill passed by House Republicans would gut Biden-era clean energy tax credits
- The House of Representatives passed a tax and spending bill on May 22, 2025, in Washington that cuts clean energy tax credits and opens public lands for resource extraction.
- The bill aims to repeal or phase out subsidies established by the 2022 Inflation Reduction Act, a Biden-era law supporting renewable energy like wind and solar.
- The legislation reduces or eliminates tax credits for rooftop solar, electric vehicles after 2025, and restricts projects linked to foreign entities, including China, while removing a proposed sale of 460,000 acres of public land in Nevada and Utah.
- Shares of solar companies plunged with Sunrun down nearly 41%, SolarEdge about 26%, and Enphase nearly 18%, while analysts called the bill a "sledgehammer" to clean energy incentives and stressed the threat to economic and climate goals.
- The bill now moves to the Senate, where some Republican senators, led by Lisa Murkowski, advocate preserving energy credits amid concerns about disruption to jobs, investment, and the US energy leadership position.
281 Articles
281 Articles
Trump’s budget bill would gut ‘green’ investments in Minnesota
WASHINGTON — Gov. Tim Walz vigorously leveraged federal “green” tax credits — for electric cars, solar panels and other clean energy technologies and projects — that are now on the chopping block as Congress moves forward on President Donald Trump’s game-changing budget. The One Big Beautiful Bill Act that would cut social programs, extend Trump’s first-term tax breaks and raise the nation’s debt ceiling, would phase out former President Joe Bid…
Tax credit cuts could spoil an even more important clean energy goal
The NewsAs budget negotiations grip the US Congress, some lawmakers are already looking ahead to the next big energy fight, one with even higher stakes for clean energy and the AI power race: Permitting reform.Bipartisan discussions “are being seeded now” on the scope of a bill that could speed up approvals for new grid lines and pipelines, and restrict the use of litigation to block such projects, Rep. Scott Peters (D-Calif.) told Semafor, and …
House Republicans vote to repeal landmark climate legislation
After days of intense political infighting between ultraconservative and moderate Republicans, the House of Representatives voted along party lines on Thursday morning to approve a sweeping tax bill that seeks to eviscerate the heart of landmark climate legislation passed by Democrats just three years ago. The 2022 climate law on the chopping block—the Inflation Reduction Act, or IRA—was the first legislation in more than a decade to attempt to…
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