U.S. lawmakers propose to suspend the 45X manufacturing tax credit, U.S. solar stocks rise broadly
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Republican Congressman John Moolenaar from Michigan and Democratic Congressman Jared Golden from Maine submitted a resolution to the House of Representatives proposing to suspend the U.S. 45X Advanced Manufacturing Production Tax Credit (PTC). This news led to a general rise in U.S. solar stocks, with Enphase Energy up 8.4%, Solaredge Technologies up 15.9%, Canadian Solar up 9.7%, and Sunrun up 9.6%. The tax credit policy is intended to encourage domestic clean energy manufacturing, but some lawmakers are concerned that it may benefit foreign companies at the expense of U.S. domestic businesses
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