What is in the new climate bill - Inflation Reduction Bill
$369 Billion price tag
Most likely will increase inflation, but lets call it reduction anyway. Not saying that is good or bad just the most likely outcome.
The primary goal of the bill is to support climate change. Drive adoption of clean energy and reduce the impact of fossil fuels.
What other bills are in the pipeline and likely to happen?
The police bill. More funding for police officers and crime preventions.
Chips chips chips. The computer chip bill is still in the works.
1. Tax credits for EVs
A $7,500 rebate for new vehicles and a $4,500 tax credit for used ones.
2. $30 Billion for utilities companies to transition to clean energy
Less reliance on coal and more on clean energy
3. $27 Billion for clean energy technology accelerator
Develop new and better clean energy tech.
4. $5 Billion for American forest to be prepared for wildfires
This is definitely needed. Make sure forest don't burn down.
5. $20 Billion for clean energy ag practices
More ecofriendly crops. Less water for farming etc.
6. $60 billion for environmental justice
Not sure what this includes exactly.
7. $60 billion for clean energy manufacturing
Solar and wind parts manufacturing.
8. $27 billion for a new federal green bank
Financing for green projects.
9. Methane Fee
Pay a fee for emitting too much methane.
10. Oil and gas
You thought it was dead with this bill? Think again.
Oil will be allowed to continue drilling on Federal lands including offshore and Alaska.
11. Funding for critical minerals projects
Development of the minerals required to create solar cells etc. for green energy projects.
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