Senate Finance text summary:
- Claws back critical tax credits for clean energy, clean vehicles, home efficiency, and clean manufacturing.
- Phases out tax credits for wind and solar beginning in 2026 and fully eliminates these credits by 2028
- Eliminates tax credits for new and used electric vehicles, commercial clean vehicles, and fueling infrastructure, stalling the American-made EV industry
- Accelerates phase-outs of tax credits that support American businesses and supply chains that have brought billions of investments to the U.S.
- Cuts tax credits that make homes and buildings more efficient and more affordable to operate.
Senate Republicans want to get credit for their version being less extreme than House colleagues, but it's just as bad but on a different/slightly slower timeline. The IRA helped Republican states the most, and repealing it will make our climate goals under Biden near impossible to reach.
Source: AltruisticMilk_