WASHINGTON (May 22, 2025) – The U.S. House of Representatives passed a massive tax and spending package this morning that included provisions that would raise taxes on U.S. energy production, rolling back critical features on clean energy tax credits that have attracted more than $131 billion in private investments. More than 400 large-scale clean energy projects have been announced since the tax credits were first passed in 2022, which would create at least 122,000 new permanent jobs across the U.S.
The package now heads to the Senate for final passage before it heads to President Trump’s desk for his signature.
The following is a statement from Bob Keefe, executive director of the national nonpartisan business group E2 and author of the 2024 book about federal energy policy, Clean Economy NOW.
“The plan passed by House leadership will make it harder to produce the energy America needs, while simultaneously putting hundreds of projects, thousands of jobs and billions in investments at risk – mostly in Republican states that elected them.
“It’s now up to the Senate to fix this big, ugly mess of a bill. With more than 400 major clean energy projects and our energy future hanging in the balance, we hope they’ll put their constituents ahead of politics and make America great through action, not words.”
More resources to aid in your coverage:
- See E2’s clean energy factory and project tracker here with details on the nearly 375 major projects now planned across almost every state, including leaders Michigan, Georgia, South Carolina, North Carolina, Texas and Tennessee.
- See E2’s latest monthly Clean Economy Works report showed $8 billion in clean energy projects have been cancelled since the start of 2025, more than all clean energy projects cancelled between 2022 and 2024.
- See E2’s latest annual Clean Jobs America analysis and interactive map breaking down America’s 3.5 million clean energy jobs to the state and county levels—jobs that could be impacted by tax increases on clean energy companies and plans by the White House to stifle growth in wind, electric vehicles and other clean energy industries.
- See the Solar Energy Industries Association’s (SEIA) new report that found the just-passed House bill would force 287 American solar and storage factories to close, cost 292,000 American jobs, and erase $220 billion in local investment.
- See Clean Energy Buyers Association’s (CEBA) new report showing how repealing clean energy tax credits would increase average annual residential electricity bills by at least 7 percent ($110 per year) and raise business electricity bills by 10 percent.
- See E2’s economic impact analysis of 334 large-scale clean energy factory and projects announced by companies between August 2022 and August 2024, tracked by E2’s Clean Economy Works
For more details, please contact E2 Communications Director Michael Timberlake at [email protected].
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E2 is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and managed more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on X/Twitter at @e2org and Bluesky at @e2org.bsky.social