The U.S. Senate tax committee proposed a full phase-out of solar and wind energy tax credits by 2028 but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump’s administration, according to a draft bill circulated on Monday.
The language released by the committee chair, Republican Senator Mike Crapo, envisages phasing out tax credits enshrined by the Biden-era 2022 Inflation Reduction Act for solar and wind energy in 2026 by reducing the incentive to 60% of the credit’s value and ending it by 2028.
It would grant