Republicans Push To End Major Biden Green Energy Tax Credits In New Bill

Republicans on the U.S. House Ways and Means Committee unveiled a tax plan proposing to end key green energy tax credits introduced during the Biden administration.

The plan aims to end the USD 7,500 clean vehicle tax credit by the end of 2025, except for manufacturers with fewer than 200,000 sales. It also proposes eliminating credits for used clean vehicles, large commercial clean vehicles, and residential renewable energy improvements. Additionally, tax credits for zero emissions electricity and clean hydrogen production would be phased out by 2031. The Inflation Reduction Act, signed in 2022, allocated nearly USD 270 billion toward clean energy initiatives.

Critics warn that removing these incentives could increase consumer energy costs and slow clean energy development.