US Edition
Corn-Producing States Could Benefit From Tax Cut Bill
UNITED STATES, JUL 14 – The budget bill ends clean energy tax credits and expands fossil fuel leasing, raising average household electricity costs by $280 annually by 2035, Energy Innovation reports.
- President Donald Trump signed the 'big beautiful' budget bill on July 4, 2023, affecting U.S. energy policies nationwide.
- This bill phases out nearly a dozen Biden-era clean energy tax credits by the end of 2025 and mandates expanded oil and gas leasing.
- Energy Innovation's analysis projects average household energy costs will rise nationwide, mainly due to higher electricity and natural gas prices.
- The report estimates average annual increases between $170 and $280 by 2035, with Oklahoma households facing a $540 rise without wind power tax breaks.
- These policy changes may slow clean energy growth, raise electricity bills in every state except Alaska and Hawaii, and increase reliance on costlier natural gas.
20 Articles
20 Articles
Corn-producing states could benefit from tax cut bill
Congress’ passage of President Donald Trump’s spending and tax cuts bill this month could help grow the market for sustainable aviation fuel, a nascent industry that could be a boon for corn-producing states as airline operators are betting on it…
NBC Chicago
How much Trump’s ‘big beautiful’ bill could raise electricity costs in every state
Electricity prices are expected to surge higher throughout the next decade due to energy policy changes in President Donald Trump's "big beautiful" bill,...
Telemundo 20
Electricity prices are expected to rise over the next decade due to changes in energy policy in President Donald Trump’s “great” bill, according to a new analysis by Energy Innovation, a group of non-partisan energy and climate experts. Signed on July 4, the bill orders the expansion of oil and gas leases, limits subsidies to clean energy, and reverses fiscal credits that helped make wind, solar and other clean energy more affordable for manufac…
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