💨 Abstract

Under proposed changes by Senate Republicans to a major tax bill, clean energy and home energy efficiency tax credits would be phased out, but more gradually. Electric vehicle incentives would be rapidly eliminated, significantly impacting wind, solar, and other renewable energy projects. Senator Ron Wyden criticized the bill, stating it causes nearly as much damage as the House version. The Senate version aims to slow down the phaseout of certain tax credits compared to the House's stricter timeline but still faces opposition and pending modifications.

Courtesy: WTOP Staff