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Federal Budget Tax Credits Energy Projects

McDermott Will & Emery

The One Big Beautiful Bill Act: Navigating clean energy tax credits in a new era

On July 4, 2025, US President Donald Trump signed into law a budget reconciliation bill known as H.R.1: the One Big Beautiful Bill Act (OBBBA). The OBBBA generally accelerated phase-outs to the Inflation Reduction Act of 2022...more

Eversheds Sutherland (US) LLP

Rolling back renewable energy tax credits: Senate passes One Big Beautiful Bill

On July 1, 2025, the Senate passed One Big Beautiful Bill (OBBB) in a 51-50 vote, with Vice President J.D. Vance casting a tiebreaker vote. Although the House of Representatives previously passed its own version of OBBB (see...more

Allen Matkins

Renewable Energy Update 6.12.25

Allen Matkins on

New U.S. solar capacity will be more than 10% lower in 2030 than in 2025, according to a forecast by the Solar Energy Industries Association and energy research firm Wood Mackenzie. The outlook includes the expected effects...more

Troutman Pepper Locke

Tax Credit Implications of the One Big Beautiful Bill Act

Troutman Pepper Locke on

On May 22, the U.S. House of Representatives passed an amended version of H.R. 1—the One Big Beautiful Bill Act (the Bill) — by a vote of 215-214. The House-passed version of the bill, slated to be considered by the Senate...more

Paul Hastings LLP

House Bill Accelerates Phaseout of Clean Energy Tax Credits and Restricts Leasing and Transferability

Paul Hastings LLP on

On May 22, 2025, the U.S. House of Representatives passed House Bill 1, officially titled the “One Big Beautiful Bill Act” (OBBBA). This budget reconciliation bill includes significant energy-related provisions that would...more

White & Case LLP

Amendments to IRA Tax Credits in the House Budget Bill

White & Case LLP on

On May 22, 2025, the House of Representatives passed (by a vote of 215-214-1) its version of the budget reconciliation bill (H.R. 1, the "One Big Beautiful Bill Act") containing numerous tax reform provisions. Below are our...more

Bennett Jones LLP

Budget 2024 Provides Additional Details for the Clean Electricity ITC and Adds Another ITC for Electric

Bennett Jones LLP on

In Budget 2024, the Government of Canada continued their drive to implement government incentives aimed at decarbonizing the economy through providing further clarification and design details for the Clean Electricity...more

Bennett Jones LLP

Canada Using the Carrot Instead of the Stick to Decarbonize in Budget 2023

Bennett Jones LLP on

The Government of Canada continued their drive to decarbonize the economy through the use of the carrot rather than the stick in Budget 2023 by announcing two new investment tax credits...more

Eversheds Sutherland (US) LLP

FY 2022 Green Book goes big for green energy

On May 28, 2021, Treasury released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals, more commonly referred to as the Green Book. The issuance of the Green Book provides further detail on...more

Mayer Brown

Bipartisan Budget Act Partially Reinstates Orphaned Energy Tax Credits

Mayer Brown on

The Bipartisan Budget Act of 2018 (H.R. 1892) (the “Act”) was enacted on February 9, 2018. The Act is a two-year budget agreement that includes a number of provisions extending lapsed renewable energy-related tax credits;...more

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