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Surprise Senate climate deal includes incentives for hydrogen, nuclear, renewables

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.

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