President Donald Trump signed an executive order on Monday directing federal agencies to eliminate subsidies for wind and solar energy projects.
The presidential order, titled “Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources,” coincides with the One Big Beautiful Bill Act, which recently passed in the House and the Senate. Within 45 days of the Bill’s enactment, the Treasury Department is ordered to “strictly enforce the termination of the clean electricity production and investment tax credits” which are governed by Internal Revenue Code sections 45Y and 48E. These provisions are used to give companies tax breaks for investing in clean energy projects. The Interior Department is tasked with reviewing and revising regulations that provide preferential treatment to wind and solar facilities over other energy sources.
This comes as part of a broader energy policy overhaul that aims to…
