WASHINGTON – Federal tax policies that are creating jobs and increasing America’s energy supplies would be phased out or repealed in new language released by the Senate Finance Committee today as part of President Trump’s massive tax and spending package. If approved by the full Senate and House, it would put crucial investments in clean energy, electric vehicles, hydrogen, and more into doubt, and raise energy costs for consumers and businesses, according to the national nonpartisan business group E2.
The following is a statement from Bob Keefe, E2 executive director and author of the 2024 book about federal energy policy, Clean Economy NOW.
“The Senate’s proposal remains a huge step backward for our economy and our environment.
“This language continues to make it harder to develop made-in-the USA clean energy projects; makes it less likely for businesses to invest in new vehicle and energy-related factories and makes it more expensive for consumers and businesses to get the electricity they need amid skyrocketing energy demand.
“Lawmakers must go back to the drawing board and deliver a serious, stable energy policy that strengthens our economy, rather than undermining it.”
More resources to aid in your coverage:
- See E2’s clean energy factory and project tracker here with details on the more than 390 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 businesses cancelled or downsized $14 billion in investments and 10,000 new jobs in new clean energy projects since the start of 2025.
- 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
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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 @e2.org.