Many consumer tax credits tied to electric vehicles and home energy efficiency would be wiped out in 2026 as part of a massive GOP legislative package.

If enacted, Republicans’ draft legislation would mean that President Biden’s signature climate legislation would effectively be neutered.

Solar stocks slid after Senate Republicans detailed revisions to the House's tax-and-spending bill that included fully phasing out wind- and solar-tax credits. The Senate's plan would see credits phased out from 2026,