A bill to temporarily suspend the clean electricity production credit to support the Strategic Petroleum Reserve

Progress

Timeline

• Mar 20Read twice and referred to the Committee on Finance.

Summary

**Bill Summary: S 4158** **What it does:** This bill would temporarily pause a tax credit that helps clean energy companies (like wind and solar) produce electricity. The money that would have gone to these tax credits would instead be redirected to support the Strategic Petroleum Reserve (the government's emergency oil stockpile). **Who it affects:** - Clean energy companies that currently receive tax breaks for producing renewable electricity - The Strategic Petroleum Reserve program - Potentially electricity consumers and taxpayers **What would change:** Clean energy producers would temporarily lose certain tax incentives, which could make renewable energy projects less financially attractive. Meanwhile, more federal resources would go toward maintaining or expanding the nation's emergency oil reserves. **Current status:** The bill is being reviewed in a Senate committee and has not yet been voted on by the full Senate.

How This Affects You