The Republican Party in the House of Representatives, led by Speaker Kevin McCarthy, recently passed legislation aimed at raising the nation’s debt limit. The bill includes a freeze on government spending levels and makes various other significant alterations to current law, including new work requirements for certain federal assistance programs.
One notable aspect of the legislation that has garnered substantial attention is the rolling back of tax incentives, rebates, and other subsidies for renewable energy. These provisions were initially modified under the Inflation Reduction Act of 2022, which passed along party lines without any Republican support. Now that they have control of the House of Representatives, Republicans are seeking to rescind these parts of the 2022 law.
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