> 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 Trump administration-favored hydropower, nuclear and geothermal energy, according to a draft bill circulated on Monday.
> The draft released by the committee chair, Republican Senator Mike Crapo, would begin 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 hydropower, nuclear and geothermal facilities 100% of the credit until 2033, and **then phase it out to zero** by 2036, according to the draft.
Astronomy_Setec on
Or, we could actually move into the future instead of being stuck in the past.
lowcrawler on
oil subsides and support via military engagements too?
gamesexposed on
Meanwhile, China is headed into the very opposite direction. The mental gymnastics required to tout US sovereignty while dismantling technological progress are on a whole another level.
It’s also hilarious that the primary beneficiaries of these credits are places like Texas and the Midwest.
Skylarking77 on
The Chinese government figured out that rather than fighting America for dominance it could just pay our government to destroy itself for them.
TheRexRider on
I’m a fan of nuclear energy, but not under Trump. Way too many corners *will* be cut.
BowlofPetunias_42 on
You have to keep in mind many of these senators are so old they predate the sun, so they don’t really understand how it works.
Western-Reach-1143 on
Senate repeal the oil and gas tax breaks / subsidies?
tilclocks on
So just in time for the next election so the effects don’t hit people until another party wins… So tired of this shit
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> 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 Trump administration-favored hydropower, nuclear and geothermal energy, according to a draft bill circulated on Monday.
> The draft released by the committee chair, Republican Senator Mike Crapo, would begin 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 hydropower, nuclear and geothermal facilities 100% of the credit until 2033, and **then phase it out to zero** by 2036, according to the draft.
Or, we could actually move into the future instead of being stuck in the past.
oil subsides and support via military engagements too?
Meanwhile, China is headed into the very opposite direction. The mental gymnastics required to tout US sovereignty while dismantling technological progress are on a whole another level.
It’s also hilarious that the primary beneficiaries of these credits are places like Texas and the Midwest.
The Chinese government figured out that rather than fighting America for dominance it could just pay our government to destroy itself for them.
I’m a fan of nuclear energy, but not under Trump. Way too many corners *will* be cut.
You have to keep in mind many of these senators are so old they predate the sun, so they don’t really understand how it works.
Senate repeal the oil and gas tax breaks / subsidies?
So just in time for the next election so the effects don’t hit people until another party wins… So tired of this shit