Washington, D.C. — New guidance from the Trump administration to the Treasury Department proves that affordable and clean energy advocates’ concerns about the administration’s renewable tax credit sleight of hand were well-founded. Trump’s billionaire Treasury Secretary Scott Bessent is preparing to implement an executive order immediately cutting off renewable energy subsidies, even though the Republican budget bill explicitly mandated that wind and solar companies continue to receive tax credits if they begin construction of their projects within the next year.

As energy prices continue to skyrocket across the nation, clean energy advocates and industry leaders have warned about possible disruptions in the country’s electricity supply as a result of this ramped-up timeline. President of Clean Energy for America Andrew Reagan continued those warnings in the following statement:

“As Trump’s war on clean energy continues to escalate, every American and business should brace for even higher utility bills because of their backward actions. Just as the President’s chaotic tariff taxes set back America’s clean energy transition and raised prices on all Americans, his efforts to undermine already-awarded renewable tax credits will just compound companies’ whiplash and bring new project construction to a screeching halt. The casualties of this will be good-paying jobs, energy companies, investment, and the economy.

“Though President Trump’s One Big, Ugly Bill is a travesty, and will undo much of the progress we’ve made, even Republicans knew that phasing out these tax credits couldn’t be done all at once. We implore other Republican members of the United States Senate to stand up and stop this economic self-sabotage — Americans’ utility bills, businesses, investments, and jobs depend on it.”