Utah lawmakers oppose AI regulation in Trump's ‘Big, beautiful bill'
SALT LAKE CITY () — Utah Lawmakers have signed a letter opposing specific measures related to artificial intelligence in President Donald Trump's
In a letter addressed to Senator Mike Lee (R-Utah) and Senator John Curtis (R-Utah), state lawmakers say they are 'concerned with the proposed ten-year moratorium on state-level artificial intelligence regulation.'
According to , initially the bill was and block dozens of states from enforcing preexisting AI regulations and oversight structures in any way. But on June 5, the Senate Commerce Committee altered the text on the bill. The new version would only require states not to regulate AI if they want access to federal broadband funding.
The bill allocates $500 million over the next 10 years to modernize government systems with the help of AI and automation technologies.
In a letter signed by nearly 50 lawmakers including House Speaker Mike Schultz (R-Hooper) and Senate Majority Leader Kirk Cullimore (R-Draper), they claim the provision would hinder Utah's nationally recognized efforts 'to strike the right balance between innovation and consumer protection.'
They add that since Utah to establish an Office of Artificial Intelligence Policy, followed by the launch of an AI learning Lab, Lawmakers say these initiatives 'allow Utah to encourage responsible AI development, empower industry leaders and shield consumers from real-world harms, all without stifling innovation.'
According to , a centerpiece of the legislation is making the 2017 Trump tax cuts permanent — which nonpartisan scorers and think tanks estimate would cost trillions of dollars over the next decade.
Utah taxpayers may take a hit if 2017 cuts expire
The bill also includes a proposal that would raise the cap for the state and local tax (SALT) deduction, which would allow taxpayers — especially those in higher-tax blue states — to deduct more of their regional taxes from their federal tax bill.
The bill also has major reforms to Medicaid, estimated to lead to millions of people losing coverage by 2034.
Trump is pushing Congress, where Republicans have majority control, to send the final product to his desk to become law by the Fourth of July.
RSL hoping to make a run in second half of season
Utah lawmakers oppose AI regulation in Trump's 'Big, beautiful bill'
'Somebody has to stop it:' Gov. Cox defends Trump's decision to deploy troops to LA
'We're living in the dumbest timeline' — Gov. Cox comments on SLC Sego pride flags
Calif. governor asks court to block Trump administration from using troops in immigration raids
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Sunrun Stock (RUN) Plummets 40% as U.S. Senate Targets Solar Credits
The solar sector is reeling after the release of the Senate Finance Committee's proposed tax-and-spending bill, which targets renewable energy sources. Sunrun (RUN), a major player in residential solar, was particularly vulnerable to the news, shedding almost 40% of its valuation in the past week. Having traded as high as $13.20 per share in late May, the stock is now languishing at ~$6 following this week's news. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In my view, the proposed incentive cuts pose a significant threat to Sunrun's viability, particularly given its ongoing inability to generate profits despite these benefits being in place. Without that financial support, a turnaround seems even less likely, leaving me firmly bearish on the stock. For those unfamiliar, Sunrun primarily operates under a third-party ownership (TPO) model. Instead of homeowners purchasing solar systems outright, Sunrun installs and owns the panels, allowing customers to either lease the system for a monthly fee or pay for the electricity it generates at a fixed rate. This model has gained popularity because it enables homeowners to adopt solar with little to no upfront cost. Thanks to the Inflation Reduction Act (IRA), which extended and enhanced the federal Investment Tax Credit (ITC), Sunrun, as the system owner, can claim a tax credit typically worth 30% of the system's cost. This significantly lowers installation expenses and enables Sunrun to pass those savings on to customers, making the model more financially appealing. The Senate Finance Committee has recently proposed eliminating solar tax credits in favor of supporting other energy sectors, such as geothermal, nuclear, and hydropower. If passed, this legislation would require Sunrun to absorb the full cost of its solar systems, which would inevitably be passed on to customers. The result would be a significant squeeze on margins and an acceleration of the company's ongoing cash burn. Senate Republicans are reportedly aiming to pass the bill before the July 4th holiday. Upon closer examination, this appears to mark a broader shift in U.S. energy policy away from residential solar and wind. The market has already begun to react, with notable declines in Sunrun's peers, including Enphase Energy (ENPH) and SolarEdge Technologies (SEDG), underscoring the potential sector-wide impact. There's still hope for solar advocates. The proposed bill faces strong resistance from Democrats, particularly from the original architects of the clean energy tax credits included in the Inflation Reduction Act. The clean energy industry is also mounting an aggressive lobbying effort, warning of potential job losses and higher energy costs. And while the bill is led by the GOP, not all Republicans are aligned in support. The legislation still has a long way to go. It narrowly passed the House in May with a 215–214 vote, and the Senate draft was just introduced on June 16. While the Senate version includes more extended phase-out periods for some clean energy incentives, it still calls for the elimination of Section 48E credits, which are key to residential solar leases. A Senate vote is expected soon, and if proponents can secure a simple majority, the bill could advance to President Trump's desk. For context, the current Senate makeup is 53 Republicans, 45 Democrats, and two Independents. In the near term, Sunrun could experience a temporary boost in demand as customers rush to take advantage of tax credits before they're phased out. However, expectations for 2026 and beyond point to a sharp and sustained decline in demand. A closer look at Sunrun's financials reveals troubling signs. The company has consistently reported negative operating cash flow, with a loss of over $100 million in Q1 2025 and nearly $800 million in total for 2024, highlighting the financial pressure it faces even before potential incentive cuts take effect. Meanwhile, Sunrun, in its pursuit of growth opportunities, is becoming increasingly leveraged, increasing its risk profile should things take a turn for the worse. Moving forward, ongoing tariff pressures and the disappearance of incentive credits spell long-term trouble for solar installers. Analyst sentiment on Sunrun (RUN) stock is mixed. The stock carries a consensus Hold rating, based on seven Buy, six Hold, and four Sell ratings over the past three months. Despite the cautious stance, RUN's average price target of $10.44 suggests significant upside potential—about 70% from current levels. Mizuho analyst Maheep Mandloi has a Buy (Outperform) rating on RUN with a price target of $16. He notes that the House's 'One Big Beautiful Bill' won't derail grandfathered credits until 2028. He also believes that demand for renewable energy will remain high without government incentives because it is 'still the cheapest option.' However, not everyone shares Mandloi's bullish outlook. Jefferies analyst Julien Dumoulin Smith downgraded RUN to Sell (Underperform) with a price target of $5. Due to the same legislation, Smith notes that Sunrun is exposed to 'both near- and long-term headwinds.' He believes that the market is underestimating 'how consequential the 'One Big Beautiful Bill Act' is uniquely on residential solar.' The so-called 'One Big Beautiful Bill' poses a major threat to solar companies like Sunrun. The company's growth has heavily relied on tax credits tied to third-party ownership (TPO) systems. Even with those incentives, Sunrun has struggled to achieve consistent profitability. Without them, serious doubts emerge about its ability to maintain its current business model. If the bill passes, Sunrun—and others in the space—will likely be forced to pivot toward new strategies or market segments. That said, the bill could still fail, or be amended in ways that lessen the impact on Sunrun. Additionally, the proposed phase-out period provides a window for the company to adjust. From my perspective, I'd prefer to stay on the sidelines until there is more regulatory clarity. Disclaimer & DisclosureReport an Issue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
15 minutes ago
Mahmoud Khalil released from Louisiana jail after 3+ months in ICE custody
A federal judge granted his release on bail, ruling the Trump administration was punishing him over his pro-Palestinian speech.
The Hill
25 minutes ago
- The Hill
Where US troops in Mideast are most at risk of Iran strike
The Big Story Tens of thousands of U.S. troops are within Iran's striking distance should President Trump decide to wade into Israel's conflict with Tehran and directly attack the country. © Alex Brandon, Associated Press More than 40,000 American service members and civilians — as well as billions of dollars in military equipment — are in the Middle East, spread out across bases in Syria, Iraq, Jordan, Kuwait, Bahrain, Qatar and the United Arab Emirates. Those working in countries closest to Iran, including Iraq and Kuwait, would conceivably have only minutes to prepare for an incoming Iranian strike, a likely outcome should Trump order the U.S. military to join Israel's bombing campaign, experts say. 'If [Iran] had the ballistic missiles ready to go, those strikes could happen in under 15 minutes. Launched to target,' retired Col. Seth Krummrich, vice president at security consultancy firm Global Guardian, told The Hill. 'They move very quickly.' Israel last week unleashed a barrage of airstrikes on Iran that set off the largest conflict ever between the two regional adversaries, with Tehran responding with its own attacks. The war has threatened to pull in the U.S., which says it supports Israel's right to defend itself but has not directly involved itself in the bombing. Trump has not yet decided on possible American military action against Iran, telling reporters through his top spokesperson that he would make his decision within two weeks. But Iran has already threatened to directly attack U.S. forces should they enter Israel's war campaign, with the country's Supreme Leader Ayatollah Ali Khamenei warning Wednesday that 'Americans should know that any U.S. military intervention will undoubtedly be accompanied by irreparable damage.' Tehran's threats aren't idle, as the country has retaliated against Washington in the past, most notably in January 2020, when Trump in his first term ordered an airstrike that killed Maj. Gen. Qassem Soleimani, the head of Iran's elite Quds Force. The strike, which happened as Soleimani traveled to Baghdad, prompted a swift response from Iran, which days later hammered Al-Asad Air Base in Iraq and another U.S. base in Erbil with 13 ballistic missiles. While no Americans were killed in the largest ballistic missile attack ever against U.S. forces abroad, more than 100 were later diagnosed and treated for traumatic brain injuries. Now, with Trump reportedly considering using the GBU-57 — known as the Massive Ordnance Penetrator or so-called bunker buster bomb — to damage Iran's Fordow nuclear enrichment facility, a similar attack from Tehran could soon be at hand. Read the full report at Welcome to The Hill's Defense & National Security newsletter, I'm Ellen Mitchell — your guide to the latest developments at the Pentagon, on Capitol Hill and beyond. Did someone forward you this newsletter? Subscribe here. Essential Reads How policy will affect defense and national security now and inthe future: Trump: 'Hard' for Israel to stop strikes now President Trump said Friday it would be difficult for Israel to stop strikes on Iran at this point, a week into the intense conflict between the two nations and two weeks out from the president's decision on U.S. involvement. 'I think it's very hard to make that request right now,' he said when pressed about the Iranian foreign minister saying that the U.S. would call on Israel to stop airstrikes if Trump is serious about … Democrat: Trump 2-week Iran deadline 'not a bad thing' Rep. Jim Himes (D-Conn.) tepidly praised President Trump on his handling of the ongoing military conflict between Israel and Iran, after the president said he would wait two weeks to decide whether to take direct action against Iran. 'The fact that we're not reading about a U.S. attack on Iran right now actually gives me a little bit of comfort,' the top Democrat on the House Intelligence Committee told independent … Israel, Iran trade strikes as Trump weighs US military involvement Israel and Iran traded strikes on Friday as President Trump weighs the possibility of U.S. involvement and European officials seek to revive nuclear negotiations with Tehran. Israel said it hit 60 Iranian aircrafts early Friday morning along with the headquarters of the Organization of Defensive Innovation and Research, which carries out nuclear weapons research, according to the Associated Press. Iranian media said Israel's … On Our Radar Upcoming things we're watching on our beat: In Other News Branch out with a different read from The Hill: DHS places new limits on lawmakers visiting ICE facilities The Department of Homeland Security (DHS) is placing new limitations on lawmakers seeking to visit detention facilities, releasing guidelines in the wake of visits from Democrats that have turned confrontational. Members of Congress have the legal right to make unannounced visits to U.S. Immigration … On Tap Monday Events in and around the defense world: What We're Reading News we've flagged from other outlets: Trending Today Two key stories on The Hill right now: Senate parliamentarian knocks pieces out of Trump's megabill Senate Parliamentarian Elizabeth MacDonough has ruled that several key pieces of the massive bill to implement President Trump's agenda run afoul of … Read more Supreme Court rules against FDA, EPA 12:30 Report is The Hill's midday newsletter. Subscribe here or using the box below: Close Thank you for signing up! Subscribe to more newsletters … Read more Opinions in The Hill Op-eds related to defense & national security submitted to The Hill: You're all caught up. See you next week! Thank you for signing up! Subscribe to more newsletters here
