Senators Tom Cotton (R-AR) and Rick Scott (R-FL) have introduced legislation which blocks the recently finalized Treasury Department rule on 45X production tax credits from being implemented. The legislation was introduced in the House by Reps. John Moolenaar (R- MI) and Jared Golden (D-Maine).
The 45X credit subsidizes the production of five types of goods: solar energy components, wind energy components, battery components, inverters, and critical minerals.
The 45X credit is projected to cost taxpayers $72.7 billion between FY2023 and FY2027.
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