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4w ago

Senate Republicans Wrestle With Plan to End Clean Energy Tax Credits

Experts warn that a sudden repeal could derail billions in projects, threatening thousands of jobs.

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FILE - U.S. Secretary of Energy Chris Wright listens during a press conference at Lawrence Berkeley National Laboratory, Thursday, May 29, 2025, in Berkeley, Calif. (AP Photo/Godofredo A. Vásquez, File)
A row of wind turbines near Interstate 8 on the Campo Indian Reservation. (Rob Nikolewski/The San Diego Union-Tribune)

Overview

  • The House passed a Trump-backed bill to end solar and EV tax credits before their 2032 sunset and the measure now faces Senate debate.
  • An analysis by E2 and Atlas Public Policy shows more than $14 billion in U.S. clean energy investments have been canceled or delayed this year amid credit uncertainty.
  • Tesla and Elon Musk urged senators to adopt a gradual phaseout, arguing that abrupt cuts would jeopardize America’s energy independence and grid reliability.
  • Senators Thom Tillis and Lisa Murkowski among others have cautioned that an immediate phaseout would chill domestic energy investments and put jobs at risk.
  • The legislation removes incentives for renewables while leaving oil and gas credits intact, drawing criticism that it favors fossil fuels over clean energy.