Senate Republicans propose scaling back clean energy

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Carson Coffman
Carson is a contributor to Mindset. He is a former Sports Illustrated journalist and defensive coordinator. Carson has a BBA in Business Adminstration and Marketing. He...
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Senate Republicans propose scaling back clean energy incentives, sparking debate and concern among industry advocates and Democrats.
Why it matters: The proposed changes could significantly impact the adoption of renewable energy, consumer costs, and the nation’s transition away from fossil fuels.

The details:

  • The Senate bill aims to phase out tax credits for clean energy and home energy efficiency, although less rapidly than the House version.
  • Electric vehicle incentives and other provisions designed to reduce reliance on fossil fuels would be quickly eliminated.
  • The proposal claims to achieve savings by cutting Green New Deal spending and targeting waste, fraud, and abuse in spending programs.

Opponents argue that the changes would lead to higher energy prices, job losses, and a setback in addressing the climate crisis.

What they’re saying:

  • “The reality is, if the early projections on the clean energy cuts are accurate, the Senate Republican bill does almost 90% as much damage as the House proposal,” said Sen. Ron Wyden, the top Democrat on the finance committee.
  • “The bill will strip the ability of millions of American families to choose the energy savings, energy resilience, and energy freedom that solar and storage provide,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association.

The Edison Electric Institute, representing investor-owned electric companies, applauded the Senate proposal for including “more reasonable timelines for phasing out energy tax credits.”

The other side: Many Republicans in Congress have advocated protecting clean energy credits, as 77% of planned spending on credit-eligible projects are in GOP-held House districts.

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What’s next: The final legislation will depend on negotiations between the Senate and House, as Republicans aim to fast-track the bill for a vote by President Donald Trump’s Fourth of July target.

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Carson is a contributor to Mindset. He is a former Sports Illustrated journalist and defensive coordinator. Carson has a BBA in Business Adminstration and Marketing. He is an advocate for a growth mindset philosophy.