A U.S. Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028 but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump's administration,

Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, and make only modest changes to most other incentives, dashing hopes of those seeking relief from major cuts passed by the House.

The Senate version of the bill includes a provision that would fully phase out both solar and wind power tax incentives by 2028. It does, however, keep incentives for nuclear, hydropower and geothermal energy for longer.