House and Senate passes major climate change act.

[the-pi-guy]

Biggest point here is $369 billion in climate change investment.

$300 billion in deficit reduction.

This portion of the bill takes on transportation and electricity generation, and it includes $60 billion for growing renewable energy infrastructure in manufacturing like solar panels and wind turbines.

It also includes several tax credits for individuals on things like electric vehicles and making homes more energy efficient.

The bill will, according to Democrats, lower greenhouse gas emissions by 40%, based on 2005 levels, by the end of the decade, which is short of the 50% Biden had originally aimed for.

https://www.npr.org/2022/08/07/1116190180/democrats-are-set-to-pass-a-major-climate-health-and-tax-bill-heres-whats-in-it

[the-pi-guy]

[Legend]

I always love how bill titles have very little to do with their contents  

Great to get more climate change investment. Sure feels like the investments made under Obama were pretty dang successful at accelerating green energy, so hopefully this round can have a similar legacy in 10 years.

[kitler53]

I haven't looked into the details but I hope it includes investment in manufacturing solar panels in the US.  the strangle hold china has on that market is bad for US. 

[the-pi-guy]

I haven't looked into the details but I hope it includes investment in manufacturing solar panels in the US.  the strangle hold china has on that market is bad for US.

Most of the articles have really sucked.

A few details:

Production tax credits to accelerate U.S. manufacturing of solar panels, wind
turbines, batteries, and critical minerals processing, estimated to invest $30
billion.

$10 billion investment tax credit to build clean technology manufacturing facilities, like facilities that make electric vehicles, wind turbines and solar panels

[the-pi-guy]

The bill also has provisions to get the supply chain away from China, batteries have to be made from materials not sourced from China or similar.

[kitler53]

The bill also has provisions to get the supply chain away from China, batteries have to be made from materials not sourced from China or similar.

Very good.  

I'm not agaist globalisation per se but putting so much of americas security in the hands of a adversary government like china is such a bad idea.  Invest in mexico or india or south america or africa.  Don't make a bottle neck that leaves us so vulnerable.