The US House GOP Tax Proposal Would Effectively Kill The IRA

Sorry about a hard paywall, but not much else on this yet.

Key parts:

• The text proposes ending the tax credit for new EVs (that is, 30D) on December 31, 2025 — with one exception. The credit would remain in effect for one year, through the end of 2026, for vehicles produced by automakers that have sold fewer than 200,000 tax credit-qualified cars between 2010 and the end of this year.
• The GOP has proposed an early phase-out of the technology-neutral production and investment tax credits, which subsidize zero-emissions power generation projects including wind, solar, energy storage, advanced nuclear, and geothermal. It also proposed significant changes for the years they remain in effect.
• The proposal would get rid of transferability across all of the clean energy tax credits beginning in 2028.
• The draft text would also terminate the clean manufacturing credit (45X) in 2032 — one year earlier than under existing law.
• The text proposes repealing three tax credits for residential energy efficiency improvements at the end of 2025.
• Clean hydrogen canceled
• Carbon capture largely unchanged