On July 4, President Trump signed H.R.1—the “One Big Beautiful Bill,” referred to as the OBBB—into law. This sweeping tax and policy law, enacted through the process of budget reconciliation requiring a simple majority vote by Congress, carries significant implications for environmental funding, clean energy development, and climate-related programs administered by the U.S. Environmental Protection Agency (EPA), as well as the tax code. Much of the provisions affect programs and funding originally authorized under the 2022 Inflation Reduction Act (“IRA”), which was former President Biden’s signature budget reconciliation bill. Below, we outline some of the key features of the OBBB environmental and energy provisions.

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