Republicans Propose Spiking Clean-Energy Tax Credits to Raise Debt Limit
- Bill, as is, considered dead-on-arrival in Senate, White House
- Proposal is part of House Speaker McCarthy’s debt ceiling plan
This article is for subscribers only.
Hundreds of billions of dollars in clean energy tax subsidies from Democrats’ marquee climate law would be repealed by legislation to lift the debt ceiling introduced Wednesday by House Speaker Kevin McCarthy.
The legislation will “end the green giveaways to companies that distort the market and waste taxpayers’ money,” McCarthy said, referring to recent analysis that said the climate law’s tax credits were estimated to end up costing some $1.2 trillion.