President Donald Trump directed federal agencies Monday to expedite the phase-out of tax credits for wind, solar and other “green” industries, adding to a legislative assault on Inflation Reduction Act subsidies for many renewables.
The executive order calls for the Treasury Department to strictly enforce the end of tax credits for wind and solar facilities and directs the Interior secretary to produce a report within 45 days on actions to curtail those resources. It states U.S. policy as ending taxpayer support for green energy sources and supply chains controlled by “foreign adversaries.”
“Ending the massive cost of taxpayer handouts to unreliable energy sources is vital to energy dominance, national security, economic growth, and the fiscal health of the Nation,” the order states.
The text requires Treasury to take action “necessary and appropriate” to enforce the end of wind and solar tax credits, including by issuing new guidance to ensure implementation of provisions in the GOP megabill that the president signed into law July 4. It gives Treasury Secretary Scott Bessent 45 days to take action to implement language in the law aimed at preventing projects from obtaining support from “foreign entities of concern” like China and North Korea.
