The unexpected inflation reduction legislation announced by Sen. Joe Manchin (D-W.V.) and Majority Leader Chuck Schumer has lawmakers and clean advocates scrambling to read the 725-page bill.
The sweeping bill includes nearly $370 million on energy and climate change initiatives. Congressional Democrats, who have pushed an ambitious climate and clean energy package, claimed it would reduce carbon emissions roughly 40% by 2030.
It’s broken down to include $60 billion for a clean energy manufacturing tax credit and $30 billion for a production tax credit for wind and solar, seen as ways to boost and support the industries that can help curb the country’s dependence on fossil fuels.