Shares of renewable energy companies are rising after a tax on solar and wind was removed from the Senate version of the One Big Beautiful Bill Act. The Senate narrowly passed the legislation Tuesday and will now be considered by the House of Representatives.

The sprawling Republican budget bill approved by the Senate Tuesday removes a proposed tax on solar and wind energy projects but quickly phases out tax credits for wind, solar and other

Senate Republicans revealed a new tax for solar and wind energy this weekend, in the latest version of a bill that could be passed as early as Monday afternoon.