Rooftop Solar Takes Gut Punch in House Tax Bill
The struggling rooftop solar industry faces a potentially fatal blow after the House of Representatives passed a tougher version of President Trump's expansive tax-and-spending package.
The bill sunsets renewable energy credits, as expected, but includes more stringent provisions and rollback dates that were seen as especially bleak for rooftop solar. Credits for rooftop solar would end this year, while those for larger solar and wind energy projects would end by 2028, instead of a slower phaseout through 2031.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
9 minutes ago
- Forbes
What Is ‘TACO' Trade? Deutsche Bank Raises S&P 500 Target On Trump's Tariff ‘Relents'
Strategists at Deutsche Bank upped their forecasts for the leading U.S. stock benchmark this week as their optimism largely came from the idea of Trump backing down from his biggest tariff threats, a notion gaining steam on Wall Street and in Washington, earning Trump an unfortunate nickname. The White House has dismissed the TACO nickname as 'asinine' and 'nasty,' but Wall Street is ... More starting to discount the impact of tariffs. The Deutsche Bank strategists led by Binky Chadha upped their year-end price target for the S&P 500 index to 6,550, indicating they believe the S&P can jump 10% this year to a new all-time high. The upgrade was largely tied to the idea the White House has 'already relented' on tariffs and there will be 'further relents' on additional 'economic or political pains,' hinting the trade policies weighing heavily on corporate earnings are likely to get even lighter. Trade 'escalations drive pullbacks, followed by relents which then spark rallies again,' explained Chadha, nodding to the stock market whipsaws surrounding Trump's volatile trade rhetoric. The Deutsche Bank group rationale for stock gains reflects a growing consensus on Wall Street to not take Trump at face value on tariffs considering he has repeatedly backed down from his harshest trade posturing. That has led to the diffusion of the 'TACO' tenet for investors, short for 'Trump always backs down.' As Sevens Report founder Tom Essaye explains, the 'trade is based on the idea that Trump makes an outlandish and significant tariff proposal on a major U.S. trading partner but within a matter of days, backtracks and either delays the implementation or exempts enough goods that the tariff itself loses much of its bite.' Trump has 'always chicken[ed] out so far,' noted Essaye. Financial Times columnist Robert Armstrong is credited with coining the 'TACO' term. Trump lashed out last week at a reporter for asking a 'nasty question' surrounding the 'TACO' trade and White House spokesperson Kush Desai slammed the term as an 'asinine meme' in a statement to The Washington Post, but the term has gained popularity among Trump critics. On Tuesday, the Democratic National Committee parked a taco truck outside the Republican National Committee's Washington office adorned with a poster of Trump in a chicken suit, according to Axios. 'We have the lamest opposition in American history,' clapped back Vice President JD Vance. 'The past few months have been a constant tug of war between the Trump administration and foreign investors – or, as he likes to call them, 'The Globalists'…. The Globalists have won this first round and are now showboating by calling the roaring market comeback the TACO trade,' Juan Manuel Correa, BCA Research's chief strategist, global asset allocation, wrote in a Monday note. 20%. That's how much the S&P is up since April 8, when it closed at a 12-month low before Trump announced a pause on his most severe country-by-country tariffs announced the week prior. The index is still down 1% since Election Day.
Yahoo
10 minutes ago
- Yahoo
US Sent Letters to Trade Partners Ahead of Tariff Deadline
(Bloomberg) -- The Office of the US Trade Representative has sent letters to trading partners to remind them of an upcoming deadline in tariff negotiations, according to the White House, an effort by the Trump administration to push forward talks. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry At London's New Design Museum, Visitors Get Hands-On Access LA City Council Passes Budget That Trims Police, Fire Spending The Global Struggle to Build Safer Cars 'I can confirm the merits in the content of the letter,' White House Press Secretary Karoline Leavitt told reporters Tuesday, when asked about a Reuters report. Earlier: US Pushes Countries for Best Tariff Offers by Wednesday: Reuters 'USTR sent this letter to all of our trading partners, just to give them a friendly reminder that the deadline is coming up, and they are in talks,' she added. 'The president expects good deals, and we are on track for that.' A recipient of the letter, who spoke on condition of anonymity, said it was framed as a way to steer ongoing talks rather than an ultimatum. Reuters reported Monday that the administration drafted a letter demanding that countries provide their best offers by Wednesday in order to speed trade talks before July 9, when President Donald Trump's higher levies are set to take effect. Trump paused those duties in April for 90 days to allow time for negotiations. --With assistance from Alberto Nardelli. (Adds description of letter from recipient in fourth paragraph) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10 minutes ago
- Yahoo
Melissa Price Smith to run for full term as St. Louis County prosecutor
ST. LOUIS COUNTY, Mo. — Melissa Price Smith announced on Monday she will run next year for a full term as the St. Louis County Prosecuting Attorney. Her office confirmed Tuesday to FOX 2 that she will run as a Democrat for a four-year term as the county's top prosecutor. Smith, 56, was first appointed to the position in January by Gov. Mike Parson and was the first woman to hold the position of the St. Louis County top prosecutor. She was appointed by Parson to fulfill the unexpired term of Wesley Bell when he was elected to the U.S. House of Representatives. Body cam video reveals new details in viral North County K-9 incident The first race will be the primary election in August 2026, followed by the November general election. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
