What a big, beautiful birthday gift to the greatest country on Earth.
American Energy Alliance (7/3/25) release: "The U.S. House of Representatives gave final passage to H.R.1, the One Big Beautiful Bill Act, today. This legislation now heads to the Presidentâs desk for his signature.
Significant provisions of the bill include:
- Permanently extends the Tax Cuts and Jobs Act
- Repeals the electric vehicle tax credit
- Places significant restrictions on the energy subsidies embedded in the Inflation Reduction Act
- Rescinds unobligated Inflation Reduction Act funds
- Repeals the Greenhouse Gas Reduction Fund
- Pauses the IRA natural gas tax for a decade
- Requires the Bureau of Land Management to hold quarterly leases
- Reduces royalty rates to pre-Inflation Reduction Act levels
AEA President Tom Pyle released the following statement:
âWe commend Congress for passing this legislation and look forward to President Trumpâs signature. With this billâs passage, Congress is delivering much-needed tax relief to millions of working families and goes a long way towards putting an end to the misguided Biden-era IRA, which has made our energy more expensive and less reliable. Â
Eliminating the EV tax credit marks a major win for those of us who have been advocating for years that consumer choiceânot government mandatesâshould shape the American auto market. Congress deserves praise for ending these subsidies, which were largely out of step with the priorities of the American people. The measure also creates new opportunities for energy production on federal lands and stops the flow of federal dollars to green special interest groups. Â
And while the bill fell short of fully repealing the IRA, it does end solar and wind subsidies after a 2027 âplaced in serviceâ cutoff. Unfortunately, the bill includes a loophole as projects committing 5% of costs within 12 months qualify as âunder constructionâ and get a 4-year extension. This enables projects started by July 2026 to receive subsidies through July 2030, and many lasting an additional 10 years. The Trump administration should limit this by tightening Treasury rulesâshortening the safe harbor and requiring continuous construction, not just initial constructionâto ensure the solar and wind lobby donât continue to game the system at taxpayer expense.â
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"We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor."Â
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â Declaration of Independence
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