U.S. Senate Republicans on Monday proposed a tax bill that would extend a clean fuel tax credit through 2031, but trim 20% of the value of the credit for biofuels made from feedstocks produced outside of the United States.

Senate Republicans have released their version of the tax legislation. It included some significant changes from the House version of the tax bill.

Shares of Enphase Energy, which makes solar inverters, dropped 15% in after hours trade. Solar panel sellers Sunrun and SolarEdge Technologies both tumbled more than 20%. First Solar lost 9%. The modified text of Trump's "One Big Beautiful Bill Act" also extends tax credits for hydro,