A U.S. Senate panel proposed making the tax credit for capturing carbon emissions for recovering oil equal to the $85/metric ton tax credit for permanently burying those emissions underground, a boon for oil and gas producers.

Senate Republicans proposed a tax budget bill on Monday that would end the EV tax credit 180 days after it’s signed into law if it reaches the president’s desk.

The Senate version of Donald Trump's One Big Beautiful Bill softens some of the EV and clean energy incentive cuts, but the $7,500 EV tax credit is doomed