After more than a day of debate, the U.S. Senate passed a sweeping budget bill Tuesday that could severely harm the future of renewable energy.
The bill ends wind and solar tax credits for projects not operational by 2027 and eliminates electric vehicle incentives. A proposed excise tax on materials from countries like China was softened in the final version but still threatens ongoing projects.
Experts warn the bill will raise clean energy costs and slow progress, just as demand from electric vehicles, homes, and AI surges. Critics—including Elon Musk—say the bill favors outdated energy industries and risks millions of jobs.
Former President Trump, who pushed for gutting green tax credits, backed the Senate’s harsher version, calling renewable incentives “insane” and pledging to dismantle the Inflation Reduction Act.
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