Senate moves to gut clean energy tax credits as deal nears

The Senate was close to passing a sweeping GOP bill Tuesday morning that rolls back renewable energy tax credits, adds a new tax on wind and solar, and boosts fossil fuel development.

Amelia Davidson, Timothy Cama, Nico Portuondo, and Garrett Downs report for E&E News.

In short:

The bill would cut off tax credits for wind and solar projects not operational by the end of 2027.
A new excise tax targets clean energy projects that use materials from countries like China.
Credits for nuclear, hydrogen, and geothermal remain, while fossil fuel drilling and permitting are expanded.

Key quote:

“If this passes, it is a death sentence for the wind and solar industries.”

— Sen. Ron Wyden (D-Ore.), Senate Finance Committee ranking member

Why this matters:

Rolling back clean energy support would stall progress on climate goals and raise energy prices. Fossil fuel expansion and regulatory rollbacks would increase health risks from pollution.

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