Tonight, House Republicans released updated text of their sweeping multi-trillion-dollar tax proposal designed to bankroll massive tax breaks for billionaires and big corporations. The revised bill worsens the original proposal’s de facto repeal of the clean energy tax credits, accelerating their phaseout beyond what was previously proposed. It also moves up the start date for the already unworkable Foreign Entity of Concern (FEOC) requirements. Together, these changes would strangle investment in new clean energy generation and deepen the economic damage this bill will inflict. In response, Evergreen Action Executive Director Lena Moffitt released the following statement:

“What was already a disaster is now a full-blown catastrophe. Republicans have taken a bill that effectively repeals clean energy tax credits and somehow made it even worse. But in their crusade to rig the system for their fossil fuel backers, it’s people living in Trump states—their own voters—who will pay the steepest price: lost jobs, higher energy costs, and missed economic opportunities.”

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