The Senate Finance Committee recently advanced legislation designed to utilize tax credits to encourage the production of renewable energy and electric vehicles (EVs).
The panel moved the Clean Energy for America Act on a 14-14 party-line vote on Wednesday. The bill would consolidate energy tax credits across different industries to promote the making of EVs and other clean energy vehicles.
Although it earned the support of Democrats, Republicans on the committee voted against the measure, which also would end tax subsidies for fossil fuels. That will lead to the loss of oil industry jobs, Republicans argued.