President Joe Biden arrived at the White House promising to “build back” America, and on Tuesday he's signing into law legislation with a slimmer version of that idea.
, thanks to requirements that component parts be manufactured and assembled in the U.S. And pricier cars costing more than $55,000 and SUVs and trucks priced above $80,000 are excluded.There's also tax breaks for consumers to go green. One is a 10-year consumer tax credit for renewable energy investments in wind and solar.
The bill would impose a new fee on excess methane emissions from oil and gas drilling while giving fossil fuel companies access to more leases on federal lands and waters. The new corporate minimum tax would kick in after the 2022 tax year and raise more than $258 billion over the decade., raising some $74 billion over the decade.
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