Senate Finance Committee Text Will Raise Costs, Threaten Our Health, and Kill Jobs

Washington, DC - Today, Republicans on the Senate Finance Committee released textof their part of Donald Trump's so-called "One Big, Beautiful" reconciliation bill in the Senate.

The committee's text would rollback many of the tax credits for renewable energy and advanced manufacturing, as well as the consumer tax credits that would help people save money on energy efficient appliances, rooftop solar, electric vehicles, and more. While slightly less restrictive than the House approved version, the Senate Finance Committee bill would eliminate residential and consumer-facing tax credits within months, while extending the timeline for some clean energy to begin construction. Solar and wind power projects benefitting from the tax credits would phase out sooner than other energy technologies.

The Senate is expected to consider its version of the budget reconciliation bill this and next week as they move to meet an artificial July 4th deadline.

In response, Sierra Club Director of Climate Policy and Advocacy Patrick Drupp released the following statement:

"Senate Republicans had a chance to fix the drastic and foolish cuts passed by the House, but rather than help families and small businesses lower costs by protecting clean energy investments, they instead chose to gut credits that saved families money and attack wind and solar energy. Republicans seem determined to eliminate billions of dollars in investments and thousands of jobs in their own communities-all to benefit the fossil fuel industry and to pay for tax cuts for billionaires and corporate polluters."

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About the Sierra Club

The Sierra Club is America's largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit https://www.sierraclub.org.