Seven key provisions in the Climate Deal

The $369B climate and tax bill would affect every aspect of US energy production for producers and consumers to move away from fossil fuels.

The climate and tax deal announced by Senate Democrats on Wednesday would pump hundreds of billions of dollars into programs designed to speed the country’s transition away from an economy based largely on fossil fuels and toward cleaner energy sources.

The legislation, called the Inflation Reduction Act of 2022, is a far cry from the ambitious multi-trillion-dollar domestic policy and tax proposal that President Biden sought and that Democrats in Congress spent more than a year laboring to pass.

What remains is a downsized but still significant package, born of compromise between Democratic Senator Joe Manchin III of West Virginia and Senate Majority Leader Chuck Schumer, Democrat of New York.

Click here to read the full article
Source: The New York Times

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.