Locator: 45135ECON.
Add this to the debt ceiling bill, the "CHIPS" bill, and the IRA, President Biden is having quite a run.
From the linked article:
$20 billion will be up for grabs to facilitate clean energy projects that will “massively expand investment in new projects that reduce pollution across the country,” the White House said in a statement released on Friday, July 14, 2023.
The $20 billion in funds is part of the EPA’s Greenhouse Gas Reduction Fund.
The $20 billion will be awarded via two competitions. The first is a $14 billion National Clean Investment Fund (NCIF) competition that will provide grants to up to three national clean financing institutions to offer financing for “tens of thousands of clean technology projects nationwide”—40% of which will be in low-income and disadvantaged communities.
The second fund, a $6 billion Clean Communities Investment Accelerator (CCIA), aims to work with the NCIF by issuing grants to up to seven nonprofit organizations that will give funds to community lenders financing clean technology projects—including retrofitting homes to make them more efficient and converting small business delivery fleets to EVs.
The move is also part of what some are referring to as a subsidy war, which appears to be pitting European countries against the United States, which is looking increasingly attractive to companies looking to invest thanks to the generous subsidies that are planned to be splashed around.
The 2024 presidential campaign is tracked here.
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