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House Passes Bill That Slashes Solar, Wind and EV Tax Credits
The House passed a sweeping Republican tax-and-spending bill Thursday that rolls back major portions of Democrats' 2022 Inflation Reduction Act, dealing a significant blow to clean-energy projects and the electric-vehicle industry. The 218-214 vote sends the legislation to President Trump's desk ahe...
The House passed a sweeping Republican tax-and-spending bill Thursday that rolls back major portions of Democrats' 2022 Inflation Reduction Act, dealing a significant blow to clean-energy projects and the electric-vehicle industry. The 218-214 vote sends the legislation to President Trump's desk ahead of his July 4 deadline.The Senate version of the bill gives wind and solar projects 12 months to start construction before losing tax incentives, extending the House's original 60-day window. The legislation indefinitely extends Trump-era tax cuts while adding new deductions for tipped workers, overtime pay, and car-loan interest.
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