President Donald Trump’s move to eliminate tax credits meant to help homeowners afford energy-efficient improvements could undermine his own pledge to lower energy costs.
As part of Trump’s One Big Beautiful Bill Act, it repealed more than $500 billion of former President Joe Biden’s Inflation Reduction Act clean energy tax credits, including incentives for homeowners to make energy-efficient upgrades and improvements to their properties.
The tax credits repeal comes at a time when electricity prices are continuing to rise faster than inflation. As of August, electricity prices have increased by 6.2% for the year, and prices have increased by 0.2% on a month-to-month basis, according to the Bureau of Labor Statistics’ latest Consumer Price Index report.
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Terminated tax credits
Specifically, the bill ended the Residential Clean
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