After a marathon markup stretching over 17 hours, the House Ways and Means Committee advanced sweeping cuts to Democratic renewable energy and climate tax credits as part of the tax portion of the massive fiscal overhaul Republicans are aiming to pass to enact much of President Donald Trump‘s domestic agenda.
The bill advanced by Republicans would terminate or amend a number of clean energy and manufacturing tax credits from the Inflation Reduction Act, signed into law by President Joe Biden in 2022. Altogether, it would eliminate $560 billion in subsidies over the next 10 years, according to the Joint Committee on Taxation.
The cancelation of the credits would help partially offset a range of Republican tax cuts in the bill, most notably the extension of
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