The infrastructure bill that was passed by the U.S. Senate experienced another delay last week en route to a vote in the House of Representatives. House Speaker Nancy Pelosi had planned to vote, and pass, the bill by last Friday, but a stalemate among Democrats is holding up the vote.
Pelosi now said she hopes there is enough agreement for the bill to pass by the end of October. Several alternative energy stocks that would likely benefit from the bill were sinking on news of the delay Monday. As of 12:15 p.m. EDT, shares of electric vehicle maker Nikola (NASDAQ: NKLA) , hydrogen-fuel-cell maker Bloom Energy (NYSE: BE) , and solar technology company Enphase Energy (NASDAQ: ENPH) were down 4.9%, 6.4%, and 5.8%, respectively.
Delaying the vote has ramifications beyond the infrastructure bill for these names, too. Disagreements over the scope of a broader spending bill that would invest even more in the green energy sector are the underlying cause for the disagreements among congressional Democrats.
For further details see:
Why the Infrastructure Stalemate Hit Nikola and Other Alternative Energy Stocks Today