Senate deal would secure historic U.S. investment in climate action and energy innovation
WASHINGTON — Last night, Senators Joe Manchin and Chuck Schumer announced they had reached a deal that includes historic support for climate action and energy innovation as part of the Inflation Reduction Act of 2022, to be voted on as part of budget reconciliation in the Senate.
“The newly announced deal to secure $369 billion for U.S. energy and innovation leadership is extremely encouraging,” said Conrad Schneider, Advocacy Director at Clean Air Task Force. “While we’re digging into the details of the text, we can say that this bill would unlock an historic investment in U.S. climate action and clean energy leadership, and that Congress should pass it immediately. Our experts confirm that the clean energy tax credit provisions in this bill can bring the U.S. within reach of its target of reducing greenhouse gas emissions 50% below 2005 levels by 2030. We commend the Senators and their staff working hard to reach an agreement that would cut emissions, create jobs, reduce inflation, and position the U.S. for long-term leadership in a decarbonizing world.”
Lindsey Baxter Griffith, Federal Policy Director at Clean Air Task Force, added: “We’re particularly encouraged to see significant support in the Inflation Reduction Act for an expanded suite of clean energy technologies, including wind and solar, nuclear energy, carbon capture and storage, geothermal energy, and zero-carbon fuels. The bill’s provisions to reduce methane emissions are also very encouraging. Each of these investments have a key role to play in U.S. efforts to act on climate change and to secure leadership in a rapidly evolving global energy economy.”
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About Clean Air Task Force
Clean Air Task Force (CATF) is a global nonprofit organization working to safeguard against the worst impacts of climate change by catalyzing the rapid development and deployment of low-carbon energy and other climate-protecting technologies. With 25 years of internationally recognized expertise on climate policy and a fierce commitment to exploring all potential solutions, CATF is a pragmatic, non-ideological advocacy group with the bold ideas needed to address climate change. CATF has offices in Boston, Washington D.C., and Brussels, with staff working virtually around the world. Visit catf.us and follow @cleanaircatf.
