Biden spending framework includes $555 billion in climate incentives
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PALM SPRINGS CA, MARCH 27: Powerful wind gusts blow in front of giant solar panels to power huge wind turbines on March 27, 2013, Palm Springs. Reports indicate that California is still the leader in green technology, with the least greenhouse gas emissions per person, despite a rapidly growing population and economy. Photo by Kevork Daniszian/Getty Images
Kevork Djansezian | Getty Images News | Getty Images
Expect President Joe Biden to announce a $1.75 Trillion new plan spending framework on ThursdayAccording to officials in the administration, it will contain $555 billion for investments in clean energy. It would be the largest ever climate investment in America if it is accepted.
This spending will be used to reduce emissions in buildings, transport, industry, electricity, and agriculture.
A fact sheet explains what the framework includes.
- Credits for clean energy taxes of $320 billion
- $105 Billion: Investments in resilience
- $110 billion: Investments & incentives for clean energy technology, manufacturing and supply chains
- Procurement of clean energy worth $20 billion
The framework stated that the framework would set the United States up to achieve its climate goals, which will see a reduction of greenhouse gas emissions by between 50 and 52 percent in 2030. This is in accordance with the Build Back Better framework.
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