Solar and wind excise tax dropped from Senate GOP megabill
Share this @internewscast.com


Senate Republicans on Tuesday abandoned their effort to impose new taxes on solar and wind energy.

Text released by the Senate Rules Committee no longer includes a new tax on solar and wind projects if some of their components come from China. 

The excise tax had been a last-minute addition to the bill and was made public over the weekend. Many in the industry had warned it could kill future projects.

The removal of the last minute provision comes as Republicans struggled to keep their coalition together and particularly sought to secure the vote of Sen. Lisa Murkowski (R-Alaska).

Murkowski, along with Iowa Republican Sens. Joni Ernst and Chuck Grassley, offered an amendment to remove the tax and loosen the phaseout of the tax credits.

The Rules Committee draft, unlike their amendment, does still impose a relatively sharp phaseout of the Senate and wind energy credits, saying that projects that are not already producing electricity by 2028 will not qualify.

An earlier Senate draft was more lenient, saying that companies that start constructing projects by 2028 should get at least partial credit.

Aris Folley contributed.

Share this @internewscast.com
You May Also Like

Mayor Criticizes NES Officials for Slow Power Restoration, Asserting “Nashvillians Deserve Better

In a recent statement, Mayor Freddie O’Connell expressed his dissatisfaction with Nashville…

Gasparilla Pirates Face Off Against Strong Winds in Epic Battle

TAMPA, Fla. – This weekend, Tampa’s streets were overrun by swashbuckling pirates,…

Zelenskyy Announces Upcoming Russia-Ukraine Negotiations Set for Next Week

KYIV – Ukrainian President Volodymyr Zelenskyy has announced that the forthcoming peace…

RNC Dominates Fundraising: A Major Advantage Over Democrats in Midterm Elections

WASHINGTON – Heading into the midterm elections, the Republican National Committee (RNC)…

House Races Against Time to Resolve Partial Government Shutdown This Week

The House of Representatives is moving swiftly this week to resolve the…

Kennedy Center Faces Two-Year Closure for Renovations Starting July Amidst Performers’ Criticism, Announces Trump

WASHINGTON – President Donald Trump revealed plans to shutter the Kennedy Center,…

Greenland’s Diplomatic Triumph: Navigating US Challenges to Secure Promising Future

In a notable shift from recent tensions, U.S. and European leaders are…

Unforgettable Grammy Highlights: Mars Shines, Carpenter Takes Flight, and Bieber Stuns with Bold Style Choices

When the dust settled, only one person remained seated, visibly astonished and…

Surprising Sunday Closures: Discover Which Tri-Cities Churches Are Taking a Pause This February

JOHNSON CITY, Tenn. (WJHL) — A number of local churches have opted…

Brights Zoo’s Cold-Weather Animals Thrill in Snowy Conditions

As a winter wonderland descended upon the Tri-Cities, Brights Zoo became a…

Global Markets Tumble: US Futures and Asian Shares Decline as Wall Street Falters and Oil Prices Plunge Over $2

Monday saw a sharp decline in U.S. futures and Asian shares, accompanied…

Remembering Demond Wilson: Beloved ‘Sanford and Son’ Star Passes Away at 79

Demond Wilson, the beloved actor who rose to fame in the 1970s…