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Republican senators seek to change Senate bill clean energy tax, improve tax credits
UNITED STATES, JUL 2 – Senate Republicans seek to end subsidies for wind and solar by 2027 and impose new taxes on projects using Chinese components, risking millions of jobs and billions in investments.
- Senate Republicans are pushing a bill to impose an excise tax on wind and solar projects sourcing from China, with a vote scheduled for Monday.
- Senate Republicans' push to offset 2017 tax cuts led to a bill that slashes green energy spending and boosts fossil fuel production, fulfilling President Trump’s energy agenda.
- According to the American Clean Power Association, the tax hike could add $4–7 billion in costs, threatening 300 GW of projects and hundreds of thousands of jobs.
- Following the bill’s release, shares of NextEra Energy dropped 2%, Array Technologies fell 8%, Enphase lost nearly 2%, and Nextracker tumbled 5%, signaling industry concern.
- Future estimates indicate that if the bill passes without revisions, wholesale electricity prices could rise 19% by 2030 and 61% by 2035, risking U.S. competitiveness and clean energy progress.
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People's World
ecotopical.comSenate Republicans just voted to dismantle America’s only climate plan
After three days of nonstop negotiations on Capitol Hill, the Senate voted 51-50 on Tuesday to pass a domestic policy bill that accomplishes much of President Donald Trump’s first-year agenda. Vice President JD Vance cast the tie-breaking vote.
Senate GOPers just voted to dismantle America’s only climate plan
This story was originally published by Grist. Sign up for Grist’s weekly newsletter here. After three days of nonstop negotiations on Capitol Hill, the Senate voted 51-50 on Tuesday to pass a domestic policy bill that accomplishes much of President Donald Trump’s first-year agenda. Vice President JD Vance cast the tie-breaking vote. Three Republicans — Rand Paul from Kentucky, Thom Tillis from North Carolina and Susan Collins from Maine — voted …
Senate-Passed Megabill Modifies Energy Tax Provisions - The Thinking Conservative
Senate Republicans revised some energy tax provisions in sweeping domestic policy bill as part of compromise with holdouts to secure votes. The post Senate-Passed Megabill Modifies Energy Tax Provisions appeared first on The Thinking Conservative.
Associated Press News
Republican budget bill dismantles climate law passed by Democrats
The sprawling Republican budget bill approved by the Senate Tuesday removes a proposed tax on solar and wind energy projects but quickly phases out tax credits for wind, solar and other renewable energy.
Solar and wind excise tax dropped from Senate GOP megabill
Senate Republicans on Tuesday abandoned their effort to impose new taxes on solar and wind energy. Text released by the Senate Rules Committee no longer includes a new tax on solar and wind projects if some of their components come from China. The excise tax had been a last-minute addition to the bill and was made public…
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