Greenhouse Gas Reduction Fund

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