The climate portion of President Joe Biden’s Build Back Better legislation represents the largest-ever federal investment in clean energy.
The bill's biggest spending components include 10-year tax credits to expand and accelerate investments in renewable power, including wind, solar and nuclear. It has a proposal to provide an electric vehicle tax credit of up to $12,500 for vehicles made at a unionized factory in the U.S. It would invest in new research for carbon capture technology and create a Civilian Climate Corps to spur job growth and conserve public lands, among other things.
Every Senate Democrat would need to support the bill for it to get to president's desk and become law. Meanwhile, every congressional Republican has opposed the plan, arguing it would worsen the highest inflation the U.S. has seen in decades. Earlier this month, Biden said he will likely have to break up his plan to invest in social programs and climate policy, and that he believes he can win support for spending to combat climate change.
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