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Solar Power Stocks Plunge as GOP House Bill to Gut Subsidies
Investors of clean-power stocks are running for the exits after a massive tax and spending bill that would gut former President Joe Biden’s landmark climate law narrowly passed the House of Representatives.
The bill now moves to the Senate, where some lawmakers are skeptical of provisions that would end subsidies for green energy years earlier than planned. But even as some Wall Street analysts suggested a final bill isn’t likely to be as damaging to the industry, renewable energy stocks are tumbling.