The Senate Committee on Finance argues that its proposal of changes to the bill "prevents the largest tax hike in history."

U.S. Senate Republicans on Monday proposed a tax bill that would extend a clean fuel tax credit through 2031, but trim 20% of the value of the credit for biofuels made from feedstocks produced outside of the United States.

Shares of US solar companies fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected, dashing hopes that major cuts passed by the House wouldn’t stick.