Mainstream WeeklyUS senate has just passed the "One Big, Beautiful Bill" . Inflation Reduction Act and end to tax credits in the bill may potentially slash incentives to programs for solar, wind, Electrical Vehicles. Environmentalists and climate experts say, the bill kills clean energy projects in United States and possibly a big blow to energy transition to rescue the over heated planet. This bill comes at a time when the earth has recently crossed 1.5 degrees Celsius, a warning threshold above pre-industrial levels. Today we witness temperatures soaring to above 40 C already in Southern Europe- a dangerous consequence of changing climate as warned in Paris climate summit, 2015.
The mega bill is not only a disaster by rolling back clean energy incentives from President Biden era for wind, electric vehicles, solar, hydrogen and other clean energy projects. The bill even envisages to impose new taxes on clean energy industries that happen to be the cheapest and easiest ways to get new and renewable energy on the grid. The legislation proposes to take away health care (closure of rural health and elderly nursing care) and food stamp programs for poor Americans. While penalising the poor severely the bill proposes tax cuts for the wealthiest Americans.
Roll Backs
Cuts the $7,500 tax credit for consumers who purchase a new electric vehicles
Tax credits for new or used clean-vehicle purchases including Clean heavy-duty vehicles would end after Sept.