If the Republican-controlled Senate doesn’t drastically roll back the “one big beautiful bill’s” cuts to the Inflation Reduction Act’s climate spending tax credits, the Biden-era clean energy party could be over.

The IRA credits created a clean energy boom in the United States, partly by allowing the credits to be transferable—small clean energy projects could sell tax credits to a giant corporation with a higher tax burden, or a clean energy developer could pass off the tax credit to a corporation that invested a small percentage in the project.

“The tax credits previously were one component that were used in doing that valuation calculation or the return on investment calculation to have it make sense,” Maura Hodge, US sustainability leader at KPMG, told CFO Brew.

Altus Power, a commercial solar power developer, partners with companies like banks or other institutions to place and operate solar panels on corporate buildings, hospitals, and schools. According to the company’s CFO, Dustin Weber, the tax credit allowed them to keep the overall cost of the projects down and grow the business much faster by attracting corporate partners.

“Their primary economic motivation is to get the investment tax credit to offset some of their tax liabilities,” Weber told CFO Brew.

But the budget bill the House passed on May 22 would eliminate this transferability in two years if the bill becomes law.

What’s next for green energy tax breaks?—JK

In the newest episode of Mickey Mouse Clubhouse, Mickey wants to keep his Club House in tip-top shape. So he calls on Toodles to fetch his mousketools, and when presented with three options, Mickey selects…the pink slip.

The episode may be fictional, but the layoffs sure weren’t. Walt Disney Co. let go of “several hundred employees” this week, media outlets reported. The layoffs included an unspecified number of employees in Disney’s corporate finance function.

A Disney spokesperson told CBS News the layoffs were part of ongoing efficiency efforts as the entertainment business “transforms at a rapid pace.” The spokesperson continued, “We have been surgical in our approach to minimize the number of impacted employees.”

This is the latest round of job cuts in recent months for Disney. The company laid off nearly 200 people at ABC News “and the company’s entertainment networks,” Deadline reported in early March. It also fired about 300 employees in September, including some in finance, according to Variety.

Representatives of Disney did not immediately respond to CFO Brew’s request for comment.

Keep reading here.—AZ

CFOs looking for quick, cheap energy could be in for a long, and expensive, wait. A new study from the journal Energy Research & Social Science and the Boston University Institute for Global Sustainability, as well as universities in Denmark and the UK, looked at 83 countries and found that historically, more than 60% of energy projects ran over budget between 1936 and 2024.

The average energy project blew past its expected costs by 40% and was delayed by nearly two years. The study found that this trend is global, including for newer tech like hydrogen, carbon capture, and nuclear.

The study examined 662 energy infrastructure projects, from coal plants and geothermal power to bioenergy and hydroelectric dams. The budget for all the projects was $812 billion, but the actual costs skyrocketed to $1.358 trillion. Nuclear power plants were the largest contributor to that increase: The average project cost $1.6 billion more than expected, or went 102.5% over budget.

On the other hand, solar energy is the overachiever of the clean energy group project—usually finishing construction early or under budget, according to the report.

For more on how expensive energy infrastructure can be, click here.—JK