Democrats on the House Methods and Vehicles Committee on Friday (Feb. 5) introduced a sweeping green energy bill that would expand some of the tax credits. Clean energy, expanding electric vehicle tax credits and paving the way for the pricing of greenhouse gas emissions, reports The Hill.
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The bill, known as the GREEN Act, was first introduced last year and is now being introduced again as the Democrats now control both houses of Congress and both. The White House.
The law will expand the use of tax credits for solar, wind, and geothermal energy and expand the use of tax credits for the use of carbon dioxide capture technologies in fossil fuel production.
It will also expand the electric vehicle tax credit and create a new tax credit for zero-emission commercial vehicles and zero-emission buses. The bill would require the Finance Minister to evaluate the Environmental Protection Agency’s GHG emissions data for tax authorities based on their emissions.
“Climate change is the most pressing issue of our time and we must act boldly to address this existential threat”, Rep. Mike Thompson (California) declared.
Democrats also introduced a clause that seeks to reduce environmental “inequality” by providing tax credits for “environmental equity programs” at universities, with additional funding. offered to universities and colleges with specialized organizations for people of color or minorities.
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The Sierra Club, a leading environmental group, praised some of the bill’s measures, but also said it was not bold enough.
“We need a more daring bill to fully open the clean energy transition to equate to the challenges of the climate crisis, cutting down on ‘dirty’ subsidies that have caused energy resources. amount of disadvantages and helping to promote environmental equity for communities across the country ”, The Sierra Club’s deputy legal director, Matthew Bearzotti, said.
“Anti-climate change” is an important content in the policies of the Biden Government. Since taking office, Mr. Biden has brought the US back to the Paris Agreement with huge pledges of contributions. He also stopped many important projects related to fossil fuels, eliminating the jobs of thousands to millions of people in the future. He also asked to replace all fair vehicles with electric vehicles.
Many experts have expressed concern that Mr. Biden’s climate policies will jeopardize America’s energy security, while only benefiting rivals.
Le Vy (according to The Hill)