The energy capital of the world could face challenges if the One Big Beautiful Bill Act passes the House of Representatives Wednesday.
The One Big Beautiful Bill Act is an extension of the Tax and Jobs Cuts Act (TJCA) of 2017. TJCA was a law passed during the Trump Administration’s first term and it lowered tax rates for people and businesses, increased child tax credit, and basically revamped federal tax code entirely for the first time since 1986.
The One Big Beautiful Bill Act proposes to renew how much money is deducted from your taxes, increase the amount of money you can earn before paying federal income tax, and introduce new tax breaks.
However, the bill also plans to remove billions of dollars in clean energy credits and deductions. Director of Center for Tax and Budget Policy at Rice University’s Baker Institute, John Diamond, explains “a bunch of credits on production and investment for wind, solar, hydrogen, and…
