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Senate Republicans Double Down and Target Clean Energy in Draft Tax Bill

UNITED STATES, JUN 17 – The proposed bill would end wind and solar tax credits by 2028 to reduce federal spending and fund tax cuts, causing solar stocks to drop as electric vehicle incentives also face rapid termination.

  • Senate Republicans drafted a bill in June 2025 aiming to end clean energy tax credits like the 30% residential solar credit within 180 days of enactment.
  • This proposal follows House Republicans' May passage of the One Big Beautiful Bill Act, which also cuts EV and energy efficiency credits to reduce federal spending.
  • Industry leaders warn ending credits early would increase energy costs, threaten solar investments, and risk job losses while urging consumers to act soon.
  • Alexia Melendez Martineau advised, "now is the time" to buy an EV before credits expire, while Zach Schalk predicted the bill will "cause the entire industry to collapse."
  • The bill's future remains uncertain as Senate and House versions differ, and a fast-track vote is targeted by President Trump's July 4 deadline.
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Zero Hedge broke the news in United States on Tuesday, June 17, 2025.
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