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Senate GOP Pushes Tax Cuts Amid Energy Tensions

7/1/2025

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Republicans Push Legislation

Senate Republicans are racing to finalize a tax cut and energy spending bill, hoping for House approval by Wednesday. The proposed legislation slashes renewable energy credits and introduces new taxes on wind and solar projects. However, tensions over Medicaid cuts and tax disputes could hinder progress. Senate leaders are determined to fulfill GOP commitments to boost energy and economic growth.

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Plug Power Soars

Plug Power's shares skyrocketed by 28.5% following Senate backing for hydrogen tax credits, extending support until January 2028. This boost, part of the "Big, Beautiful Bill," has garnered interest from oil companies. Yet, the company grapples with stagnant sales and looming bankruptcy risks, positioning it as a high-stakes gamble for daring investors.

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Republicans Push Legislation

Senate Republicans are racing to finalize a tax cut and energy spending bill, hoping for House approval by Wednesday. The proposed legislation slashes renewable energy credits and introduces new taxes on wind and solar projects. However, tensions over Medicaid cuts and tax disputes could hinder progress. Senate leaders are determined to fulfill GOP commitments to boost energy and economic growth.

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