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.

U.S. solar stocks tumbled on Tuesday after a Senate panel proposed phasing out solar and wind tax credits by 2028, as part of changes to President Donald Trump's sweeping tax-and-spending bill.Solar inverter maker Enphase Energy and solar panel manufacturer First Solar slid 27.

Solar stocks are tumbling after the Senate maintained the full removal of clean-energy tax credits in the budget bill, even as it reportedly extended the time frame for the phaseout beyond the Republicans’ proposals.