On Tuesday, July 1, the U.S. Senate passed its version of the budget and tax bill, which will now return to the U.S. House. The Senate bill takes an ax to energy tax credits—primarily solar and wind—compromising local investment and jobs, while undermining energy security. Additionally, it is expected to drive higher electricity bills, as energy demand surges due to less clean energy investment and slower supply growth. However, several legislators managed to achieve a more gradual phaseout for solar and wind power, and a last-minute amendment that targeted energy was removed. “It’s hard to say I’m psyched about a bill that’s a step back on energy policy, but it’s considerably improved,” Jason Grumet, CEO of the American Clean Power Association (ACP), said to Bloomberg.

Clean Vehicle Tax Credits

Tax credits that help subsidize the cost of clean and electric vehicles, including the Section 25E Used Clean Vehicle Credit, the Section 30D New Clean Vehicle Credit, and the Section 45W Commercial Clean Vehicle Credit, will end on September 30, 2025. This is a slightly shorter timeline than in the House version, which maintained the used vehicle and commercial vehicle credits through the end of this year and the new vehicle credit in limited form through 2026.

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