Professor criticizes 'Big Beautiful Bill' for repercussions on US economy: 'This bill is a huge setback'

Yahoo

21 hours ago

A university professor has joined the chorus of experts criticizing the U.S. Senate's recently passed One Big Beautiful Bill Act for the devastating impact they say it would have on the U.S. economy and the transition to a cleaner-energy future should it pass the House and become law.
"This bill is a huge setback for clean energy development in the United States," warned Daniel Cohan, a professor of civil and environmental engineering at Rice University in Texas, per Fast Company.
Two different versions of the massive "Big Beautiful Bill" originally inspired by President Donald Trump have passed the House and Senate, and the bill was approved and sent back to the House for reconciliation on July 1.
While its terms have yet to be fully finalized, the bill has received heavy criticism for attempting to offset massive tax cuts for the wealthy, with cuts to renewable-energy incentives, Medicare and Medicaid, and food-assistance programs.
The bill still adds to the deficit, according to Fox Business, which said that "the Senate-passed version of the bill would yield net tax cuts of about $4.45 trillion over a decade, coupled with roughly $1.35 trillion in spending cuts."
As a Yale review found, the vast majority of those tax cuts will benefit the richest Americans, while much of the spending cuts will hurt the poorest, along with removing budget allocation for clean energy projects intended to increase American energy independence from foreign gas and oil.
Cohan in particular took aim at what he views as the bill's misguided approach to the nation's energy future.
"It takes away support for the technologies that matter most for cutting emissions – solar, wind, batteries, and electric cars – while wasting money on ones that don't, such as biofuels and carbon capture for oil recovery," Cohan said, per Fast Company.
If it becomes law, Trump's "Big Beautiful Bill" would significantly roll back many of the renewable-energy incentives included in the 2022 Inflation Reduction Act.
At the time it was signed into law, the IRA was heralded as the nation's largest-ever investment in renewable energy and a clean-energy future.
The "Big Beautiful Bill" threatens many of the IRA's most successful programs. Whereas renewable-energy projects previously could qualify for tax incentives if completed by 2032, the Senate-passed bill would require these projects to be completed by 2027, Politico reported.
The change would threaten hundreds of billions of dollars in renewable-energy investment and tens of thousands of new jobs, according to Clean Investment Monitor.
The "Big Beautiful Bill" would slash consumer incentives, as well. The Senate-passed version would halt federal electric-vehicle tax credits after September, CNBC reported.
Under the IRA, those tax credits, which totaled up to $7,500 for a new EV or $4,000 for a used one, would extend until December 31, 2032, according to the Department of Energy.
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In order to avoid the most catastrophic impacts of rising global temperatures, it is essential to drastically reduce the amount of heat-trapping pollution entering the atmosphere.
With electricity production and transportation alone accounting for more than half of the planet-heating pollution generated in the U.S., transitioning to renewable-energy sources and electric vehicles would go a long way toward accomplishing that goal.
Unfortunately, the "Big Beautiful Bill" threatens to curtail much of the progress that has been made under the IRA.
While the "Big Beautiful Bill" appears likely to become law, negotiations on its final terms remain ongoing. That means there is still time to make your voice heard by reaching out to your elected representatives in Washington to let them know where you stand.
You can find and reach your representative about it through a pre-formatted email here or by phone call here.
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