House GOP Budget Cuts End Clean Energy Tax Credits After 2028

The House Republican budget proposal threatens significant cuts to clean energy tax credits established by the Inflation Reduction Act, potentially undermining support for wind, solar, storage, electric vehicles, and other green technologies. Key provisions include terminating the 48E investment and 45Y production tax credits for non-nuclear clean energy projects after 2028, with a narrow 60-day construction start window, and eliminating most electric vehicle tax credits by 2026, affecting both commercial and consumer markets. These changes, combined with tighter restrictions on foreign involvement in clean energy projects, create nearly insurmountable challenges for developers and could severely disrupt ongoing clean energy investments and infrastructure expansion, including EV charging stations. Analysts warn that these cuts could raise energy costs for American households and stall job creation tied to the clean energy sector. The proposal faces political hurdles, with some Republican senators expressing reservations and concerns about voting against the economic interests of their own districts, where clean energy jobs have grown. Meanwhile, critics highlight that the budget prioritizes subsidies for fossil fuel exploration and tax cuts for corporations over climate action, intensifying opposition from environmental groups.