01:38 PM EDT, 06/17/2025 (MT Newswires) -- Enphase Energy ( ENPH ) was down 23% in recent Tuesday trading after a US Senate committee proposed phasing out renewable energy credits and KeyBanc downgraded the stock.

The US Senate Finance Committee made changes to President Donald Trump's tax-cut and spending bill that will phase out solar, wind, and energy tax credits by 2028, Reuters reported Monday.

Senate Republicans will debate the changes as they attempt to pass the legislation before July 4, according to the report.

Meanwhile, KeyBanc changed its rating to underweight from sector weight with a $31 price target.

Elsewhere, Sunrun ( RUN ) shares tumbled 38%, SolarEdge Technologies ( SEDG ) fell 34%, and First Solar ( FSLR ) lost 17% following the US Senate committee proposal.

Price: 34.70, Change: -11.23, Percent Change: -24.44