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Energy & Environment Energy & Environment House OKs major cuts to energy tax creditsUnder the updated version, any energy projects that begin producing electricity after 2028 will not be eligible for the climate-friendly credit. Projects also need to start construction within 60 days of the bill’s enactment.
However, a carve-out is added for nuclear power, which will only need to begin construction rather than begin producing electricity by the end of 2028 to receive the tax credit.
There's also a tighter timeline on Chinese components, subcomponents and minerals; any project that starts construction this year needs to be free of them.
Republicans have also stripped a controversial provision added during the amendment process that would have allowed the sale of certain public lands in Utah and Nevada.
The updated version of the bill now heads to the Senate for consideration.
Read more at TheHill.com.
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