Shares of solar-power companies were tumbling Tuesday after the release of U.S. Senate’s proposed a plan to phase out solar tax credits by 2028 as part of President Donald Trump’s sweeping tax and spending bill.

Shares of US solar companies fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected, dashing hopes that major cuts passed by the House wouldn’t stick.

A U.S. Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028 but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump's administration,