Back to today’s briefing

Story perspectives

Trump's Budget Cuts Clean Energy, Threatens 1.7M Jobs

7/3/2025

38 5

Summary

Story summary

President Trump's newly approved budget bill slashes federal clean energy incentives, jeopardizing project development and driving up electricity costs. By phasing out tax credits for wind and solar energy in favor of fossil fuels, the bill could result in a staggering 1.7 million job losses and $197 billion in wage cuts by 2035, raising alarms about America's future in clean energy competitiveness.

History

Historical Context

The 1970 Clean Air Act was a landmark U.S. legislation aimed at reducing air pollution, leading to the establishment of the Environmental Protection Agency (EPA). Over the years, the EPA has achieved significant emission reductions. However, recent budget cuts to clean energy incentives reflect ongoing tensions in U.S. energy policy, potentially undermining progress in renewable energy and threatening economic and environmental stability.

1 of 2

Story summary

President Trump's newly approved budget bill slashes federal clean energy incentives, jeopardizing project development and driving up electricity costs. By phasing out tax credits for wind and solar energy in favor of fossil fuels, the bill could result in a staggering 1.7 million job losses and $197 billion in wage cuts by 2035, raising alarms about America's future in clean energy competitiveness.

1 / 2