In case you were worried AOC and John Kerry didn’t get their climate spending . . .
According to the Washington Post:
Although Sen. Joe Manchin III (D-W.Va.) forced Democrats to drop a key provision targeting the electric power sector, the final bill includes an array of tax credits for companies and consumers that will make it easier to buy electric vehicles, install solar panels, retrofit buildings and manufacture wind turbines and other clean-energy equipment in the United States.
The climate package comes at a time when President Biden is hoping to demonstrate at a high-profile United Nations summit next week that the United States can meet its international climate commitments. The legislation, coupled with executive actions, could help Biden halve U.S. greenhouse gas emissions in less than nine years compared with 2005 levels.
“This is game-changing,” said Carol Browner, who served as President Barack Obama’s top climate adviser during the start of his administration and headed the Environmental Protection Agency under President Bill Clinton.
Comparing it to the 2009 stimulus bill that funneled billions of dollars to clean energy, Browner said, “This is six times the amount of Obama’s investment, and we thought that was big.”
Republican lawmakers, however, said it would make it harder for the United States to take advantage of its abundant supply of fossil fuels. During a House Committee on Oversight and Reform hearing Thursday, where Democrats grilled oil executives over their past efforts to play down the effect of climate change, Rep. Andy Biggs (R-Ariz.) specifically targeted the new tax-and-spending bill.
“The president and his allies in Congress have consistently advocated for policies that have led to higher energy prices and increased inflation,” Biggs said.
Total price tag: $555 billion.