Lawmakers spark backlash with controversial bill that would roll back major energy incentives: 'Would take a sledgehammer'

Senate Republicans recently released their proposal for a budget bill, and it featured potentially controversial rollbacks in key areas dedicated to fighting the ongoing climate crisis.

As detailed by TechCrunch, the language in the Senate Finance Committee's proposal "would take a sledgehammer to some parts of the renewable-friendly Inflation Reduction Act (IRA) while sparing others."

Most notably, incentives for solar installations would take a major hit, as the bill would put a swift end to residential solar tax credits. Under the proposal, residents would have just 180 days after the bill is signed to claim the credits. However, solar leasing companies would be deemed ineligible for any credits, making them less accessible for people hoping to install solar panels without breaking the bank.

While incentives for commercial wind and solar would extend through 2032 under the IRA, the proposed bill would cut them by the end of 2027. A full credit would be available for projects that start within six months of the bill being signed, while any that begin in 2026 would receive 60% of the credit, and those that start in 2027 would get 20%.

In addition to the speedy timeline of ending solar incentives, hydrogen tax credits would be ended this year under the proposal, causing a significant setback for startups in the clean energy sector looking to utilize hydrogen fuel.

The proposed bill isn't completely negative, as carbon-capture projects will remain eligible for tax incentives. Other energy sources — most notably nuclear, geothermal, and hydropower — received extensions. Projects that begin in 2033, the year after the IRA would've expired, would receive a full credit. That would drop to 75% of the credit for projects that start in 2034 and 50% in 2035 before the credit is phased out completely in 2036.

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TechCrunch wrote that the proposed moves "are largely in line with GOP priorities to kneecap wind and solar while preserving nuclear and geothermal." The IRA was the largest action Congress took to combat the rising global temperature and its effects, and removing clean energy incentives would be detrimental to the future of the planet.

By relying less on dirty energy sources such as coal, gas, and oil, the amount of planet-warming pollution being released into the atmosphere would be greatly reduced, thereby slowing the effects of Earth's overheating.

It's important to stay informed about critical climate issues and take local action when you can. Voting for political candidates with climate-friendly policies can go a long way toward creating a cleaner and safer future for all.

TechCrunch provided optimism that the Senate Republicans' proposed bill isn't the end-all be-all.

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"This isn't the last word, though," the publication stated. "The bill can't be signed by President Donald Trump as is. First, it must pass the Senate parliamentarian before heading to the House, which has set a July 4 deadline to pass the full package."

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