The One Big Beautiful Bill Act — signed into law on July 4 by President Trump — furthered the Trump administration’s cutdowns on renewable energy sources in favor of producing natural energy resources using federal lands and waters.
The bill introduces changes to tax credits intended to incentivize the expansion of renewable energy companies building solar and wind farms across the U.S. The effects of the bill are likely to directly affect New Mexicans, Rep. Melanie Stansbury (D) said.
According to a report published by the Center for American Progress, the OBBBA terminates several federal investments in clean energy, which could raise prices nationally including price hikes of energy costs in New Mexico by an average of $210 per year starting in 2026.
The passage of the bill could make it difficult for energy providers like Public Service Company of New Mexico, which is trying to modernize New Mexico’s electric grid and make millions of dollars in infrastructure investments, Stansbury said.