The Republican budget bill approved by the Senate eliminates a proposed tax on solar and wind projects while phasing out tax credits for these energy sources. This legislation was passed narrowly with a tie-breaking vote from Vice President JD Vance. Critics, including Democrats and environmental advocates, warn that this plan could severely hinder the growth of renewable energy industries and lead to increased utility costs for Americans. Industry leaders express concern that the measure could negatively impact jobs and the electric grid's stability.
"Despite limited improvements, this legislation undermines the very foundation of America's manufacturing comeback and global energy leadership," said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association. If the bill becomes law, "families will face higher electric bills, factories will shut down, Americans will lose their jobs, and our electric grid will grow weaker," she said.
"This historic legislation will help usher in a new era of energy dominance by unlocking opportunities for investment, opening lease sales and expanding access to oil and natural gas development," said Mike Sommers, the group.
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