By VALERIE VOLCOVICI and NICHOLA GROOM Reuters
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WASHINGTON — U.S. House lawmakers laid out plans on Monday to phase out clean energy tax credits, slash spending on electric vehicles and renewable energy, and claw back other climate-related funds as part of the Republicans’ attempt to pass a multi-trillion-dollar budget in line with President Donald Trump’s agenda.

The House Committee on Energy and Commerce laid out a proposal, which will be voted on on Tuesday, that would raise $6.5 billion from the repeal of climate-related parts of the Biden administration’s massive Inflation Reduction Act legislation.

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The House Ways and Means panel, meanwhile, proposed the phase-out or cancellation of several lucrative tax credits from former President Joe Biden’s signature climate law, including ending a consumer-facing credit for electric vehicle purchases and a tax credit for home energy efficiency improvements, and the phase out of various key clean energy subsidies for expiry by 2031, according to a document it released on Monday.

Trump had campaigned on a promise to end government support for EVs and unwind Biden’s sweeping efforts to combat global warming, arguing that the measures are unnecessary and harmful to automakers, drillers and miners. He is also hoping that his first budget since reclaiming office will make good on his promises to slash the federal bureaucracy.

The proposed cuts from the House tax panel include a rapid phase-out of the “technology neutral” 45Y tax credits for wind, solar and other clean energy sources that include Republican-favored technologies like nuclear and geothermal.

The credits, which had no expiration previously, would phase down from 80% for a facility placed in service during calendar year 2029, to 60% by 2030, 40% by 2031 and zero after 2031.

Transferability, a provision of the 2022 Inflation Reduction Act that had allowed developers to sell their tax credits and use the funds to finance their projects’ construction, would also be eliminated, according to the proposed draft.

Meanwhile, tax credits for carbon capture and sequestration as well as direct air capture, known as 45Q — favored by the oil and gas industry — remained mostly in tact, with some limits to foreign ownership of projects. A tax credit for sustainable aviation fuel was also extended in the proposal, in a nod to biofuel producers looking to expand their markets.