Trump's Bill Raises US Energy Costs, Threatens Millions Jobs

President Donald Trump's large domestic spending bill includes provisions that would repeal clean energy tax credits and impose new taxes on renewable energy projects, particularly penalizing wind and solar initiatives sourcing components from China. Analysts and industry groups warn these measures could significantly raise electricity costs, with Minnesota residents potentially facing a 28 percent increase in household electricity bills by 2035 and national wholesale electricity prices rising by up to 61 percent. The legislation is projected to cause massive job losses, with estimates of nearly 900,000 jobs lost by 2032 across manufacturing and construction sectors, threatening hundreds of thousands of construction jobs in clean energy. Utility disconnections are already rising sharply, and the bill's rollback of clean energy incentives may exacerbate energy affordability challenges amid increasing electricity demand. In addition, power producers in Pakistan have raised concerns about new levies on furnace oil that could raise electricity generation costs and disrupt refinery operations, highlighting global tensions around energy costs and policy impacts. Critics argue the bill risks undermining investment in U.S. clean energy infrastructure, potentially damaging the country's credibility and exacerbating economic and energy crises.