Back to today’s briefing

Story perspectives

Clean Energy Tax Credits Face Phasing Out by 2032

5/15/2025

28 6

Left

Committee Cuts Tax Credits

The House Ways and Means Committee is set to phase out clean energy tax credits by 2032, sparking backlash from energy advocates who warn this could drive up electricity costs and stifle innovation. Meanwhile, a proposed excise tax on college endowments threatens to discourage donations, potentially jeopardizing vital financial aid for students.

Right

GOP Advances Tax Cuts

GOP lawmakers took a significant step on Wednesday by advancing a crucial tax measure to extend the 2017 tax cuts. The House Ways and Means Committee's narrow 26-19 vote sends the bill to the Budget Committee, despite concerns it could balloon the debt by $3.7 trillion. With challenges ahead, GOP leaders are racing to finalize the package by July 4.

1 of 2

Committee Cuts Tax Credits

The House Ways and Means Committee is set to phase out clean energy tax credits by 2032, sparking backlash from energy advocates who warn this could drive up electricity costs and stifle innovation. Meanwhile, a proposed excise tax on college endowments threatens to discourage donations, potentially jeopardizing vital financial aid for students.

1 / 2