Greenhouse Gas Reduction Fund

On August 16, 2022—one year ago today—President Biden signed the Inflation Reduction Act (“IRA”), the most significant clean energy and climate law in U.S. history.  As we described in a series last summer, the IRA created durable tax credits and other fiscal programs to revitalize domestic manufacturing and incentivize clean energy solutions in nearly every sector of the economy. The IRA’s one year anniversary is a key opportunity to take stock of what the law has propelled and what is expected around the corner.Continue Reading The First Year of the Inflation Reduction Act

On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law, directing a record $370 billion toward clean energy investments.

Yesterday, the White House released a 182-page guidebook to the IRA entitled Building a Clean Economy.  John Podesta, Senior Advisor to the President for Clean Energy Innovation and Implementation, explains in

One of the Inflation Reduction Act’s (IRA) notable features is the creation of a Greenhouse Gas Reduction Fund (GGRF).  This fund could create a mechanism to quickly disburse up to $27 billion to clean energy technologies, without undergoing the sometimes laborious reviews required by the National Environmental Policy Act (NEPA).  IRA § 60103. Continue Reading Inflation Reduction Act Sets the Stage for a National Green Bank

Late on July 27, Sen. Joe Manchin and Senate Majority Leader Charles Schumer announced an agreement on the Inflation Reduction Act (IRA): a reconciliation package that implements prescription drug pricing reform, invests in Affordable Care Act health care subsidies, imposes a corporate minimum tax and improves tax enforcement, and—most relevant for this post—provides $369 billion to support energy production and reduce greenhouse gas emissions.Continue Reading Overview of the Inflation Reduction Act