News from Novi: 10 Headlines that Stood Out to Us this Week
News from Novi: 10 Headlines that Stood Out to Us this Week
Issue 7 – Week of June 2nd, 2025
What do Musk and Tesla want from the Republican megabill?
As of Thursday, Elon Musk opposed the GOP’s one big beautiful bill, as he took to his social media platform X to encourage citizens to reach out to their Congressional representatives to “KILL the BILL”. Musk says it is bad fiscal policy and that it gives unfair treatment when it comes to tax incentives for oil and gas, EVs and solar.
NOVI TAKE: First, this clash was inevitable and is playing out in real time. Second, if nothing else stops the Rs from tearing down good energy policy, perhaps the repercussions of biting the hand that feeds will force them to think again.
Lawmakers aim to slash climate funds into two spending bills
The House Republican appropriators have proposed deep cuts to agriculture programs in their 2026 proposed budgets – specifically through eliminating “climate hubs” and going after funding for resilience for natural disasters in military funding.
NOVI TAKE: These provisions may underestimate the popularity of resilience and climate programs for farmers.
House Republicans see ‘massive grift’ in EPA climate grants
During the House Oversight and Government Reform Subcommittee – Republicans attacked the Greenhouse Gas Reduction Fund claiming it is a “revolving door” that gives taxpayers’ money to Democratic groups.
NOVI TAKE: A good idea falling prey to partisan politics.
How tax credit transfers have changed lending for clean energy
According to the debt capital market report released by Crux, the policy uncertainty related to the IRA will cause disruption in investment into technologies in the clean energy space.
NOVI TAKE: This article, and the Crux report it reviews, is helpful for explaining clean energy financing mechanisms. Check out the Crux report here: 2024 Transferable Tax CreditMarket Intelligence Report.
Senate Environment reconciliation provisions pause methane tax
The proposal would pause for a decade the enforcement of the tax on certain methane emissions included in the 2022 Inflation Reduction Act and rescind all unobligated funds provided for the collection of the tax.
NOVI TAKE: Pollution fees are the favorites of economists but still have work to do with politicians.
Opinion: Tax credits with a scalpel – how to boost American energy without killing innovation
Senator John Curtis of Utah shared his views on the battle that the US Senate is facing with the energy tax credits in the reconciliation bill. His main takeaway is that as the Senate makes decisions regarding the IRA tax credits, they “must be wise – we simply cannot afford to treat good policy ideas as guilty by political association”.
NOVI TAKE: As one of the four Republican signatories of a letter encouraging a moderated approach to the tax credits, Curtis’ oped showed his desire to double down on his position.
Electricity Prices Are Surging. The G.O.P. Megabill Could Push Them Higher
As electricity prices rise across the U.S., the threat of repealing the Biden-era credits could raise them even more, possibly by as much as $400 per year.
NOVI TAKE: $400 per year is a lot.
How FEOC & Early Sunset Threaten US GDP and Economy
The Center for Climate and Energy Solutions (C2ES) has released resources to help us understand the impacts of the proposed reconciliation bill.
NOVI TAKE: Please watch their recordings of their webinar “How Tech-Neutral Credit Restrictions Could Kill Clean Energy Projects Nation-wide” for more information and here’s the full briefing information: Economic Impact of Tech-Neutral Tax Credit Provisions in the 2025 Reconciliation Bill.
Thune vows not to overrule parliamentarian on megabill
The parliamentarian will vet the big beautiful bill for compliance with Senate rules before it comes to the floor. It has been tradition in Congress to respect the Parliamentarian’s decisions, though there are processes for overruling them. Senate Majority Leader Thune said “we’re not going there” when asked about this strategy, even though other Republican Senators have indicated their willingness to do so.
NOVI TAKE: Respect for the institutional norms is a great development, and hopefully will help push us back to the times of dialogue and compromise that results in more durable policy.
EPW megabill text includes climate cuts, permitting changes
The Senate Environment and Public Works Committee has released its portion of the reconciliation bill this week. Their proposal would revpeal many IRA programs, delay the methane pollution fee, and create narrower repeal of EPA’s vehicle emissions rule. There is also a part of the text that would allow for expedited environmental permitting for a fee.
NOVI TAKE: Now let’s see what the Parliamentarian feels is compliant with the Byrd Rule of the U.S. Senate….