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End of Energy Tax Credits: Legislative Changes

This bill aims to eliminate numerous tax credits currently supporting various types of energy production. This means energy companies may lose existing financial benefits, potentially impacting energy prices and investments in new technologies. These changes could have a long-term effect on the energy market and consumer costs.
Key points
The bill repeals several tax credits for energy companies, including those related to renewable energy production, carbon capture, and other technologies.
These changes may affect energy production costs, potentially leading to higher prices for consumers or reduced investment in certain energy sources.
The provisions apply to tax years beginning after December 31, 2022.
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Additional Information
Print number: 118_HR_1562
Sponsor: Rep. Perry, Scott [R-PA-10]
Process start date: 2023-03-10
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Restoring Energy Market Freedom Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1562.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-10.

What are the main provisions?

Key points include:

  • The bill repeals several tax credits for energy companies, including those related to renewable energy production, carbon capture, and other technologies.
  • These changes may affect energy production costs, potentially leading to higher prices for consumers or reduced investment in certain energy sources.
  • The provisions apply to tax years beginning after December 31, 2022.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Perry, Scott [R-PA-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Taxes Environment Economy