00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Senate is advancing a sweeping GOP tax and spending bill backed by President Trump
00:07that would dismantle the 2022 climate law, phase out clean energy tax credits,
00:12and impose new taxes on wind and solar projects.
00:14According to the Associated Press, the proposal goes beyond previous Senate drafts,
00:18ending renewable energy incentives faster, and adding supply chain restrictions.
00:22It boosts production of fossil fuels and reduces the tax credit for metallurgical coal.
00:26Critics warned the bill would raise electricity bills on hundreds of clean energy products
00:31and jeopardize jobs and rural investment.
00:33The supporters argue that the tax cut bill delivers historic savings by ending green energy spending
00:38and increasing investments in fossil fuels and nuclear power,
00:41thereby improving energy reliability and affordability.
00:44For all things money, visit Benzinga.com.
Comments