119th (2025–2027)
H.R. 1462
H.R. 1462 would eliminate federal tax credits for offshore wind energy facilities built in U.S. waters. Specifically, the bill removes eligibility for the investment tax credit and production tax credit (which help reduce the cost of building and operating renewable energy projects) for any offshore wind facility located in inland navigable waters or coastal waters of the United States. The changes would take effect on January 1, 2026, applying to wind facilities placed in service after that date. This legislation would effectively discourage offshore wind development by removing the financial incentives that currently make such projects more economically viable for companies and investors.