Overview

• Senate Republicans removed a proposed excise tax on solar and wind projects in a last-minute compromise to secure key support.
• The bill accelerates the phase-out of 2022 Inflation Reduction Act tax credits for wind, solar, electric vehicles and energy efficiency programs.
• New eligibility rules bar companies with at least 25% Chinese ownership or excessive China-sourced components from clean energy incentives.
• It would end tax credits for new and used electric vehicles, home charging equipment, insulation and energy-efficient heating and cooling systems.
• Environmental advocates warn the rollback threatens hundreds of renewable projects, risks U.S. jobs and will drive up consumer energy costs.