Executive Order
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Ending Market Distorting Subsidies for Unreliable, Foreign-Controlled Energy Sources
AI Summary:
This is a policy document - specifically an Executive Order issued by the President regarding energy subsidies and tax credits.
This regulation aims to eliminate market subsidies for wind and solar energy sources, which the document characterizes as unreliable and potentially controlled by foreign entities. The order directs the Department of the Treasury to strictly enforce the termination of clean electricity production and investment tax credits for wind and solar facilities within 45 days of the One Big Beautiful Bill Act's enactment. The Secretary of the Treasury must issue new guidance to prevent circumvention of these terminations, including restrictions on eligibility and safe harbor provisions. The Secretary of the Interior is also required to review and revise regulations that might provide preferential treatment to wind and solar facilities compared to other energy sources. Both the Treasury and Interior Secretaries must submit reports to the President within 45 days detailing their findings and planned implementation actions. The order emphasizes national security, economic concerns, and reducing taxpayer costs as key motivations for these policy changes.