Full text of the Senate bill: https://t.co/yx5Xw68HNn
wow. 725 pages.
Dr. Leah Stokes is my go-to #climate wonk, and she's weighed in on the Bill on Twitter. Thread here (https://twitter.com/leahstokes/status/1552472204343840770) But for those who don't want to go there, I'll copy the thread in full:
"We now have a game-changing clean energy and climate package ready to go in the Senate. What's in the "Inflation Reduction Act of 2022?" $369 billion in transformative investments.
Here's one BIG, IMPORTANT climate policy thread...
https://www.nytimes.com/2022/07/27/us/politics/manchin-climate-tax-bill.html"
Dr. Leah Stokes: "This bill will cut energy costs for everyday Americans. 41% of inflation is driven by fossil fuels.
The bill will help Americans buy clean energy technologies, like EVs, solar, and heat pumps, which will lower their energy bills every month."
https://www.rewiringamerica.org/policy/clean-energy-provisions
Dr. Leah Stokes: "These investments will make America a global leader in clean energy manufacturing, on everything from EVs, to batteries, to solar, and heat pumps! There's more than $60 billion here to create the 21st century American clean energy technologies we need, including through the DPA."
Dr. Leah Stokes: "These investments will clean up our electricity system, with extensions of the ITC/PTC for wind/solar, new tax credits for batteries, and $30 billion more in grid investments.
This will help get us on track for Biden's goal of 100% clean power by 2035!"
https://www.100cleanpower.com/
Dr. Leah Stokes: "This bill also contains key environmental justice investments -- and at $60 billion it will be the largest EJ investment in American history. There's funding to clean up ports, set up community grants, and clean up dirty vehicles that hit communities of color the hardest."
Dr. Leah Stokes:
"And there's more!
- $27 billion for the Clean Energy Accelerator!
- A methane fee!
- $20 billion for climate smart agriculture!
- $5 billion for forests!
It would be the largest climate investment in America history—4 times bigger than the recovery act. It would bring clean energy jobs to America and lower energy bills for American families.
It would get us 80% of the way to President Biden's climate goal. This is a game changer."
Obviously (and this is me) it's not a perfect bill. A lot of the commentary I'm seeing is about how there are mandates for onshore and offshore oil and gas leasing, which are major polluters.
But if Leah Stokes says this is forward progress, I heed it.