A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Beginning of Construction Requirements for Purposes of the Termination of Clean Electricity Production Credits and Clean Electricity Investment Credits for Applicable Wind and Solar Facilities".

**What happened and its current status:** S.J.Res.107 was introduced by Sen. Cortez Masto (D-NV) on Feb 12, 2026 to disapprove IRS Notice 2025-42—a rule that would have tightened 'beginning of construction' deadlines, effectively terminating clean electricity production credits (Section 45Y) and investment credits (Section 48E) for wind and solar facilities starting in 2026. The bill was referred to the Senate Finance Committee, discharged on Mar 19, 2026 via petition under 5 U.S.C. 802(c), and placed on the Senate calendar. On Mar 25, 2026, the motion to proceed failed in a 47-53 party-line vote. The resolution did not pass. The IRS Notice 2025-42 remains in effect. However, the action history shows the resolution received 4 cosponsors (Senators Schumer and Wyden—majority leadership and Finance Chair). The failed vote means the IRS rule stands for now, but it also signals that the House or future Senate action could revisit credit preservation. **The money trail:** S.J.Res.107 is a Congressional Review Act (CRA) joint resolution that carries no direct appropriations—$0 funding authorized. Its mechanism is regulatory disapproval: if passed and signed, it would nullify Notice 2025-42 with no force or effect, restoring the original construction deadlines. The economic consequence is preserving the 30% ITC and PTC value for wind and solar projects currently in development or construction. The DOE Loan Programs Office and Treasury Department have issued $40B+ in 48E-related guidance; the IRS rule would have invalidated many conditional awards. The DPA memoranda signed Apr 20, 2026 (Presidential Determination for Grid Infrastructure, Large-Scale Energy Infrastructure, and Coal Power) are directly additive: they invoke Section 303 of the Defense Production Act to accelerate domestic manufacturing and project deployment for grid infrastructure and large-scale energy, explicitly including wind, solar, and grid interconnection components. These DPA determinations amplify the tax credit preservation by providing federal loan guarantees and production incentives for the same asset classes—creating a synchronized federal push from both legislative (tax) and executive (DPA) branches, even though the CRA resolution itself failed. **Structural winners and losers:** Winners: $FSLR (pure-play US solar module manufacturer, most leveraged to utility-scale ITC preservation), $ENPH (residential solar inverter leader, ITC-sensitive demand), $NEE (largest US wind/solar developer, backlog of 30+ GW). $BE and $PLUG see secondary benefit via clean electricity ecosystem support. Losers: $SPWR (SunPower) trades at $0.90, down 28% in 30 days—the resolution's failure to pass does not help its near-term restructuring risk; the company is beyond the point where policy alone reverses its trajectory. General Electric ($GE Vernova) has diversified gas and wind manufacturing—the DPA's support for gas infrastructure (Apr 20 natural gas/LNG determination) partially offsets any wind headwind but creates a countervailing policy vector. Coal miners ($ARCH, $BTU, $CEIX) benefit from the Apr 20 DPA coal determination, which explicitly supports baseload coal generation—this conflicts with the wind/solar ITC preservation and creates a multipolar energy policy landscape. **Market data analysis:** $NEE at $96.51 (52-week high $97.63) shows 7-day +7.23% and 30-day +5.59%—consistent with the combined benefit of ITC preservation signal and DPA grid infrastructure support. $FSLR at $195.86 (52-week high $285.99) shows 7-day +3.79% and 30-day +2.93%—modest positive re-rating, still well off highs, reflecting uncertainty about whether the IRS rule's construction deadlines can be challenged administratively or whether a new CRA bill is introduced in the House. $ENPH at $34.30 (52-week high $54.43) is down 7-day -3% and 30-day -9.36%—the ITC preservation has not reversed its downward trend, likely because residential solar faces separate headwinds (California NEM 3.0, elevated interest rates, installer bankruptcies). $BE at $226.37 (52-week high $242.20) shows 30-day +69.9%—driven overwhelmingly by data center power demand and DPA orders, not by the CRA resolution. $PLUG at $3.03 (52-week high $4.58) shows 30-day +38.99%—similar dynamic, DPA hydrogen/supply chain support dominant. **Timeline:** The CRA resolution's failure means the IRS rule stands. The next window for legislative action is a new CRA bill in the 119th Congress (could be introduced in the House) or a rider in an omnibus spending package (FY2027 appropriations due by Sep 30, 2026). Absent legislation, the IRS rule's effective date for construction deadline termination was 60 days after publication in the Federal Register (Notice 2025-42 was published late 2025, so the deadline is mid-2026). Project developers have until approximately mid-2026 to commence construction under the original rules—this creates a rush to secure project pipeline slots, benefiting companies with ready-to-build portfolios ($NEE, $FSLR). The DPA determinations (Apr 20) have immediate effect via Presidential Memoranda; the Defense Production Act Section 303 loan guarantee and off-take programs are being administered by the Department of Energy and Department of Defense with 120-day implementation timelines.