The NO GOTION Act would prevent companies connected to seven countries deemed hostile to U.S. interests—China, Russia, Iran, North Korea, Cuba, Venezuela under Nicolas Maduro, and Syria—from receiving federal green energy tax credits and incentives. The bill targets entities controlled by these governments, organized under their laws, or at least 25 percent owned by such entities, including through indirect investments and joint ventures. If enacted, affected companies would be ineligible for major clean energy tax benefits including credits for electric vehicles, renewable energy production, energy efficiency improvements, and clean hydrogen production. The legislation would apply to all taxable years beginning after the bill becomes law. The bill was introduced by Senator Marco Rubio and referred to the Senate Finance Committee in September 2024.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.