summary
Introduced
08/02/2025
08/02/2025
In Committee
08/02/2025
08/02/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to extend the availability of certain clean energy credits.
AI Summary
This bill, known as the "Lowering Electric Bills Act," extends and modifies several clean energy tax credits in the Internal Revenue Code. Specifically, it extends the Residential Clean Energy Credit from December 31, 2025, to December 31, 2034, providing homeowners with additional time to claim tax credits for renewable energy installations like solar panels. The bill also revises the Clean Electricity Production Credit by changing the conditions for determining the "applicable year" when certain greenhouse gas emission reduction targets are met, effectively setting 2032 as a baseline year. Additionally, it modifies the Clean Electricity Investment Credit by simplifying the credit calculation and removing certain existing provisions. These changes are designed to support and incentivize clean energy adoption by providing tax credits that make renewable energy investments more financially attractive for individuals and businesses. The amendments are intended to take effect retroactively, as if they were included in the original enactment of previous legislation (Public Law 119-21).
Committee Categories
Budget and Finance
Sponsors (40)
Chuck Schumer (D)*,
Angela Alsobrooks (D),
Tammy Baldwin (D),
Michael Bennet (D),
Richard Blumenthal (D),
Lisa Blunt Rochester (D),
Cory Booker (D),
Maria Cantwell (D),
Chris Coons (D),
Tammy Duckworth (D),
Dick Durbin (D),
John Fetterman (D),
Ruben Gallego (D),
Kirsten Gillibrand (D),
Martin Heinrich (D),
John Hickenlooper (D),
Mazie Hirono (D),
Tim Kaine (D),
Mark Kelly (D),
Andy Kim (D),
Angus King (I),
Amy Klobuchar (D),
Ben Ray Luján (D),
Ed Markey (D),
Jeff Merkley (D),
Patty Murray (D),
Jon Ossoff (D),
Alex Padilla (D),
Jack Reed (D),
Jacky Rosen (D),
Brian Schatz (D),
Jeanne Shaheen (D),
Elissa Slotkin (D),
Tina Smith (D),
Chris Van Hollen (D),
Mark Warner (D),
Elizabeth Warren (D),
Peter Welch (D),
Sheldon Whitehouse (D),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Finance. (text: CR S5515) (on 08/02/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/senate-bill/2681/all-info |
| BillText | https://www.congress.gov/119/bills/s2681/BILLS-119s2681is.pdf |
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