House Republicans Pass Bill Slashing Clean Energy Tax Credits, Threatening U.S. Climate Goals

U.S. House of Representatives passed a controversial tax bill that significantly cuts back on clean energy tax incentives established under the 2022 Inflation Reduction Act. The legislation ends or accelerates the expiration of credits for solar, wind, and nuclear projects and imposes new barriers for qualifying construction. Analysts warn the bill could eliminate over 830,000 clean energy jobs, raise emissions by 260 million metric tons by 2035, and cause a spike in energy bills. The decision triggered steep losses in renewable energy stocks and uncertainty about future U.S. climate commitments. The bill’s fate in the Senate remains unclear. Read more.