Columbia Energy Exchange

Congress is rushing to enact what could be the most significant energy policy reversal in decades. The US Senate has begun work on an enormous budget reconciliation bill that would extend President Trump's tax cuts while all but eliminating clean energy programs to help pay for them. The House version substantially repeals nearly all tax credits from the Inflation Reduction Act—affecting everything from solar and wind development to hydrogen and carbon capture projects. According to the Sabin Center for Climate Change Law at Columbia Law School/Columbia Climate School, approximately $9.65 billion in unobligated IRA funds  are at risk of rescission. Critics of the cuts say this could kill progress toward decarbonization, and pull the plug on US clean energy manufacturing. But supporters argue it's necessary fiscal discipline. So what's really happening in the Senate? Can moderate Republicans preserve some clean energy provisions? And with a Fourth of July deadline looming, what wildcard events could change th