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End of Energy Tax Credits: Changes for Businesses and Consumers

This bill aims to eliminate numerous energy-related tax credits that currently support various industries and projects. This means that businesses and individuals who benefited from these credits may face higher taxes or a lack of financial support for investments in specific energy technologies. These changes could impact energy prices and the availability of certain products.
Key points
The bill removes numerous tax credits for energy-related businesses and projects, including those for renewable energy, alternative fuels, and energy efficiency.
These changes may increase operating costs for companies in the energy sector and influence investment decisions in new technologies.
For citizens, this could mean a potential increase in energy prices or a lack of incentives for investing in eco-friendly solutions for homes and businesses.
The provisions take effect for tax years beginning after December 31, 2024.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_310
Sponsor: Rep. Perry, Scott [R-PA-10]
Process start date: 2025-01-09
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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 119_HR_310.

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 2025-01-09.

What are the main provisions?

Key points include:

  • The bill removes numerous tax credits for energy-related businesses and projects, including those for renewable energy, alternative fuels, and energy efficiency.
  • These changes may increase operating costs for companies in the energy sector and influence investment decisions in new technologies.
  • For citizens, this could mean a potential increase in energy prices or a lack of incentives for investing in eco-friendly solutions for homes and businesses.
  • The provisions take effect for tax years beginning after December 31, 2024.
What is the specific legal status?

The current status is Introduced.

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 2025-12-22.

CATEGORIES

Taxes Economy Environment