Following the passing of the Republican “Big Beautiful Tax Bill” in the House, the Senate Finance Committee has released its rewrite of the Bill ahead of an upcoming vote. The rewrite includes a softening of the 48E investment tax credit (ITC) for BESS, retention of the 45X manufacturing credit and a different phase out of the 30D EV tax credit, as well as more flexible foreign entity rules. The alterations have been received positively especially by the BESS industry, but the US EV industry still faces challenges….

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