WASHINGTON (AP) — The multitrillion-dollar tax breaks package passed by House Republicans early Thursday would gut clean energy tax credits that Democrats approved three years ago while supporting increased mining, drilling and other traditional energy production.

Solar stocks plunged Thursday after House Republicans passed a tax bill that terminates key clean energy credits.

Renewable energy stocks tumbled after the House of Representatives passed a tax bill that effectively nullifies many Biden-era green energy initiatives, a move seen as deeply damaging to the solar sector.