Biden’s BBB Bill Won’t Happen Until 2022 And Solar Tax Credit Extensions May Be Reduced Or Cut If A Smaller Bill Becomes Law; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Installers Are Watching Washington DC

Passing the BBB Bill won’t happen until 2022. And it may sacrifice solar tax credits if it does become law as part of a process of slimming its cost. Solar installers like Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) hope that expanded solar tax credits and grant funds for solar initiatives remain in BBB. Even liberal online sites like Politico acknowledge that the fate of BBB is in the new year.

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Biden’s BBB Bill Won’t Happen Until 2022 And Solar Tax Credit Extensions May Be Reduced Or Cut If A Smaller Bill Becomes Law; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Installers Are Watching Washington DC

President Biden’s BBB bill and its funding for solar — through extended solar tax  credits — will be delayed until the 2022 Congressional session. It may still pass, but probably not in its current form. If it passes as a smaller expense bill, solar tax credit extensions and federal funds for solar initiatives may be reduced.

Solar installers like SIRC see the tax credits as vital to selling solar to consumers and business prospects. The tax credits serve as a valuable issue in SIRC and others being able to ‘close’ installation sales. Biden’s BBB Bill Won’t Happen Until 2022 And Solar Tax Credit Extensions May Be Reduced Or Cut If A Smaller Bill Becomes Law; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Installers Are Watching Washington DC

The BBB bill is geared more to ‘social’ infrastructure and includes solar tax credits. Biden’s Infrastructure bill is now law — with its built-in support for EVs and EV Charging Stations important.

SIRC is an applicant for some $100 million in EV Charging Station grants to build and install more units.

Washington insiders recently predicted passage of a downsized BBB bill. Now they are not so sure, as inflation makes BBB a mid-year election issue. If BBB is seen as any factor in higher or longer inflation, Senators may not be as eager to pass it.

Mike Feroli, chief US economist at J P Morgan, says, “Nothing in D.C. is 100% sure. But I think the odds are very high, I’d say 80-90%, that we get some form of BBB.” Biden’s BBB Bill Won’t Happen Until 2022 And Solar Tax Credit Extensions May Be Reduced Or Cut If A Smaller Bill Becomes Law; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Installers Are Watching Washington DC.

But form will it be in. How far will Senators slash BBB funding — and will solar tax credits be impacted? Biden’s BBB Bill Won’t Happen Until 2022 And Solar Tax Credit Extensions May Be Reduced Or Cut If A Smaller Bill Becomes Law; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Installers Are Watching Washington DC..

Analysts from Morgan Stanley, Goldman Sachs, JP Morgan and other large financial firms believe it is only a matter of time before a version of BBB becomes law. But it is important for solar manufacturers and installers, like SIRC, that if any solar tax credits are impact, they be small.

BBB still faces the test of winning the support of Sen. Joe Manchin and Sen. Krysten Sinema in the Senate. Other moderate Democrats in the Senate, with an eye on next year’s mid-term elections, also appear skittish approving elements of the proposed bill, specifically elements targeted to immigration.

The Congressional Budget Office (CBO) in its analysis believes that the bill could add some $400 billion to the federal budget deficit. A study by the Wharton School says BBB will cost even more to the U.S. taxpayer — north of $3 billion.

Solar installers, such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), are awaiting final approval of the new bill because It could drive perks for solar buyers. An extension of federal tax credits for as long as 10 years could mean more installations. More funding for production of domestic solar panels manufacturers could halt price hikes from imported models.

As proposed now, the solar sector in the pending ‘Build Back Better’ bill would receive funding for consumer and commercial buyers in the form of extensions of solar tax credits. The new spending package calls for the biggest spending program on climate investment in U.S. history.

Biden’s BBB Bill Won’t Happen Until 2022 And Solar Tax Credit Extensions May Be Reduced Or Cut If A Smaller Bill Becomes Law; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Installers Are Watching Washington DC

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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