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Trump directs Treasury to limit wind and solar tax credits

UNITED STATES, JUL 08 – The phase-out aims to reduce taxpayer costs and national security risks from foreign supply chains, with experts warning it could cut clean energy deployment by 40% and cost 760,000 jobs by 2030.

  • President Donald Trump issued an executive order restricting wind and solar tax credits, impacting renewable energy subsidies nationwide, as part of efforts to limit green energy support.
  • The White House fact sheet warned reliance on “green” subsidies threatens national security, citing dependence on foreign supply chains, including China.
  • The order requires implementing enhanced Foreign Entity of Concern restrictions from the budget law, projects starting construction within the next year, and narrows safe harbours.
  • The Department of the Interior is directed to review and potentially roll back any preferential policies for wind and solar, and last week issued a review memo outlining new procedures.
  • The Treasury must issue guidance next month, and projects must begin construction by July 4, 2026, to qualify, as outlined in Trump’s executive order.
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Newsmax broke the news in Washington, United States on Monday, July 7, 2025.
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