“‘The transformational legislation provides breakthrough investments and tax credits that will save households money, create millions of jobs and boost energy security – all while helping put the U.S. within striking distance of its 2030 climate goals.’”
That’s an optimistic Ani Dasgupta, president and CEO of the World Resources Institute, commenting recently after U.S. Senate Democrats resurrected an all-but-dead spending bill that included major climate-change action. Now, that bill, relabeled the Inflation Reduction Act from earlier incarnations as Build Back Better, faces a House vote Friday, where Democrats hold a small majority.
No Senate Republicans voted “yes” for the initiative that also included healthcare provisions and other spending, as GOP senators argued the measure wouldn’t address soaring inflation as advertised, but would sock Americans with higher taxes. The energy and climate-focused incentives are peppered with rebates and tax credits that will directly impact households, from heat pumps, to appliance efficiency, to solar panels and electric vehicles
Read more: Here’s how the Inflation Reduction Act’s rebates and tax credits for heat pumps and solar can lower your energy bill And: Thinking about an EV? First-ever $4,000 tax credit for used electric vehicles, and $7,500 for new, nears approval Comments have poured in from environmental groups, renewable-energy giants, advocacy organizations for lowering energy bills and scores of others who generally embraced congressional progress. Other groups are sticking to their concerns that without a deep basket of energy offerings, including U.S.-drilled oil
and natural gas
the nation remains vulnerable to power moves by Russia, China and the Middle East. Some environmental groups said there remained too many concessions in the hard-fought legislation, which just a few weeks ago appeared dead in the water before a major compromise was struck with energy-state Democrat Sen. Joe Manchin of West Virginia. It’s true that the rewritten spending bill a …