Senate Democrats struck a deal with West Virginia Sen. Joe Manchin for a bill that includes the biggest package in U.S. history to address climate change. Here’s a breakdown of what’s in the bill 👇
,” would spend nearly $370 billion on a raft of tax credits to help stimulate adoption of clean energy technologies, as well as spending for low-income and minority communities that suffer disproportionately from pollution.
It’s perhaps one of the bigger surprises, to say nothing of the deal itself, though it is more modest than some Democrats had initially hoped. A financial benefit for union- and American-made vehicles is gone — Manchin had long ago voiced opposition to the idea, which some close to the talks linked in part to Toyota’s non-union manufacturing facility in West Virginia.
About half of the credits will flow to efforts to spur manufacturing for solar panels, wind turbines, batteries and critical minerals processing, according to a summary of the package. About $10 billion would be dedicated to build clean technology manufacturing facilities.The package includes $60 billion for environmental justice, sending new investments to communities long exposed to greater levels of pollution than wealthier and often whiter areas.
It also would let companies that comply with any future federal methane rules to avoid paying the fee, so long as those regulations achieve the same amount of emissions reductions. It would reinstate an offshore oil and gas lease sale conducted in the Gulf of Mexico last year that had its result vacated by a federal judge due to insufficient environmental review.
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