HOUSE Republicans released their first stab at a bill to extend President Donald Trump’s tax cuts, which would help pay for them by overhauling much of President Joe Biden’s landmark climate law.

The draft framework put out on Monday by the Ways and Means Committee takes aim at billions of dollars of incentives in the Inflation Reduction Act (IRA), including tax credits for electric vehicles (EVs) and solar and wind projects – subsidies Trump has derided as part of a “green new scam”.