House Republicans on Monday proposed phasing out clean energy business breaks while repealing electric vehicle and clean energy home improvement credits in its long-awaited tax bill.
Democrats unleashed billions of dollars of tax credits for clean energy projects in their signature 2022 tax-and-climate law. Republicans have signaled plans to repeal at least some of the energy credits to pay for extending tax cuts from their 2017 law, which has many provisions expiring at the end of this year.
The proposal calls for phasing out and restricting the clean electricity production and investment credits, also called 45Y and 48E. The ...
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