US President Donald Trump’s “Big Beautiful Bill” was signed into law on July 4. While it didn’t impose a moratorium on state-level artificial intelligence laws as anticipated, it did include a substantial 35% tax credit for semiconductor manufacturers.

Whether the American public comes to see the “Big Beautiful Bill” as “beautiful” remains to be seen. A June 26 Quinnipiac poll found 29% of voters support the bill, 55% opposed it, and 16% did not have an opinion. What’s clear is that Democrats will hold the bill against Trump during the 2026 midterm election campaign season.

The new law largely hampers the ability of renewable energy projects to qualify for tax incentives as specified in the Inflation Reduction Act (IRA).