S. 2681

119 S2681 IS: Lowering Electric Bills Act
 U.S. Senate
 2025-08-02
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
  II
  119th CONGRESS
  1st Session
  S. 2681
  IN THE SENATE OF THE UNITED STATES
  August 2, 2025
  Mr. Schumer  (for himself,  Mr. Wyden ,  Mr.
  Warner ,  Ms. Cantwell ,
  Mr. Bennet ,  Mr.
  Schatz ,  Mr. Durbin ,  Ms. Duckworth ,  Mr.
  Reed ,  Mr. Hickenlooper ,
  Mr. Gallego ,  Mr.
  Blumenthal ,  Mr. Van Hollen ,
  Mr. Kim ,  Ms.
  Warren ,  Mrs. Gillibrand ,
  Ms. Klobuchar ,  Mrs. Shaheen ,  Ms. Rosen ,
  Mr. Padilla ,  Mr.
  Booker ,  Mr. Kelly ,  Ms. Smith ,  Mr.
  King ,  Ms. Hirono ,  Mrs. Murray ,  Mr.
  Markey ,  Ms. Slotkin ,
  Mr. Coons ,  Mr.
  Whitehouse ,  Ms. Alsobrooks ,
  Ms. Blunt Rochester ,  Mr. Merkley , and  Mr.
  Ossoff ) introduced the following bill; which was read twice and
  referred to the  Committee on
  Finance
  A BILL
To amend the Internal Revenue Code of 1986 to extend the availability of
  certain clean energy credits.
1.
Short title
This Act may be cited as the   Lowering Electric Bills Act  .
2.
Extension of certain clean energy credits
(a)
Residential clean energy credit
(1)
In general
 Section 25D(h)  of the Internal Revenue Code of 1986, as amended by section 70506(a) of  Public Law 119–21 , is amended by striking  December 31, 2025  and inserting  December 31, 2034 .
(2)
Effective date
The amendment made by this section shall take effect as if included in the enactment of section 70506 of  Public Law 119–21 .
(b)
Clean electricity production credit
(1)
In general
 Section 45Y  of the Internal Revenue Code of 1986, as amended by section 70512 of  Public Law 119–21 , is amended—
(A)
in subsection (d)—
(i)
in paragraph (1), by striking  Subject to paragraph (4), the amount of  and inserting  The amount of , and
(ii)
by striking paragraphs (3) and (4) and inserting the following new paragraph:
(3)
Applicable year
For purposes of this subsection, the term  applicable year  means the later of—
(A)
the calendar year in which the Secretary determines that the annual greenhouse gas emissions from the production of electricity in the United States are equal to or less than 25 percent of the annual greenhouse gas emissions from the production of electricity in the United States for calendar year 2022, or
(B)
2032.
  , and
(B)
by striking subsection (h).
(2)
Effective date
The amendments made by this section shall take effect as if included in the enactment of section 70512 of  Public Law 119–21 .
(c)
Clean electricity investment credit
(1)
In general
 Section 48E  of the Internal Revenue Code of 1986, as amended by section 70513 of  Public Law 119–21 , is amended—
(A)
in subsection (e)—
(i)
in paragraph (1), by striking  Subject to paragraph (4), the amount of  and inserting  The amount of , and
(ii)
by striking paragraph (4),
(B)
by striking subsection (i), and
(C)
by redesignating subsection (j) as subsection (i).
(2)
Effective date
The amendments made by this section shall take effect as if included in the enactment of section 70513 of  Public Law 119–21 .