Bill > S1721

This bill, named the "Energy Freedom Act", comprehensively repeals numerous green energy tax credits and subsidies across various sectors of clean energy and environmental technologies. The bill eliminates tax credits for energy-efficient home improvements, residential clean energy, electric and alternative fuel vehicles, alternative fuel vehicle refueling infrastructure, biofuels, sustainable aviation fuel, electricity produced from renewable resources, nuclear power production, clean hydrogen production, commercial clean vehicles, advanced manufacturing, clean electricity production and investment, clean fuel production, and energy-efficient commercial buildings. Additionally, the bill repeals the tax on petroleum and removes sections related to elective payment for energy property and renewable electricity credits. Most of these repeals would take effect for taxable years or property placed in service after December 31, 2025, giving businesses and industries some time to adjust to the changes. The bill represents a significant rollback of federal tax incentives designed to promote clean energy adoption and reduce carbon emissions, effectively dismantling many of the tax code provisions that have been used to encourage renewable energy and environmentally friendly technologies.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1721/all-info