President Trump on Saturday went off on the ‘green tax credits’ in the ‘Big Beautiful Bill’ that will likely pass the Senate in July.
The House-passed version of the bill largely cut back on green tax credits. The Senate version also cuts back several of the green tax credits.
CNBC reported:
GOP set to end many clean energy tax breaks in 2026
Republicans would use money from the clean energy tax breaks — as well as cuts to food assistance and healthcare programs like Medicaid — to help pay for a broader multitrillion-dollar package of tax cuts for households and businesses, among other policy priorities.
The “One Big Beautiful Bill Act,” which House Republicans passed in May, would end a tax credit of up to $7,500 for qualifying households that buy a new electric vehicle and a $4,000 credit for those who buy a used EV.
It would also end a separate tax incentive that allowed car dealers to pass along a $7,500 credit to consumers who lease an electric vehicle.
Additionally, the House bill would end the energy efficient home improvement credit (also known as the 25C credit) and residential clean energy credit (the 25D credit), which help consumers defray the cost of projects like installing insulation, solar panels, heat pumps, and installing energy-efficient windows and doors.
Trump called the green tax credits a giant scam in a Truth Social post.
“I HATE “GREEN TAX CREDITS” IN THE GREAT, BIG, BEAUTIFUL BILL. They are largely a giant SCAM. I would much prefer that this money be used somewhere else, including reductions. “Anywhere” would be preferable! Windmills, and the rest of this “JUNK,” are the most expensive and inefficient energy in the world, is destroying the beauty of the environment, and is 10 times more costly than any other energy. None of it works without massive government subsidy (energy should NOT NEED SUBSIDY!). Also, it is almost exclusively made in China!!! It is time to break away, finally, from this craziness!!!” Trump said.
