Congress Passes Budget Bill, Rescinding Funds and Repealing IRA Programs and Tax Credits

On July 3, 2025, Congress passed the budget reconciliation bill, One Big Beautiful Bill Act of 2025, which affects several of the IRA’s climate-related provisions. The bill rescinds unobligated funds from many of the IRA’s spending programs, and in some cases, repeals the underlying programs. The bill also eliminates several IRA tax credits.