Energy industry

The Senate is considering a plan to save a lucrative tax credit for the production of hydrogen that would be scrapped in the tax mega bill passed by the House.

The measure would clamp down on energy tax credits created or expanded by the 2022 Inflation Reduction Act by imposing a slew of new restrictions.

The bill would end clean electricity tax credits for sources like wind and solar starting in 2029 and require projects to begin construction within 60 days.

The move would constitute "a complete death" for energy projects that rely on global supply chains for solar cells, magnets, batteries and other materials.

Key Senate Republicans are resisting the House's plan to gut clean energy tax credits, vowing to soften the blow for emerging technologies and nuclear power.

The plan mandates the sale of dozens of parcels totaling more than 11,000 acres (4,450 hectares) of federal land in Utah and Nevada.

House Republicans plan to raise more than $15 billion in revenue through lease sales, as well as other measures, to help pay for the massive tax cut package.

Accountants can transform renewable energy incentives from the Inflation Reduction Act into a strategic financial opportunity for their clients.

The Trump administration has been rapidly backing away from the various green energy tax incentives offered under the Biden administration.

A $400 billion green bank for clean energy projects and a consumer tax credit for electric vehicles are being reviewed under a government-wide spending freeze.