Climate Deal To Pump Billions Into Domestic Manufacturing

Domestic manufacturing got a big win today from West Virginia Democratic Senator Joe Manchin’s unexpected reversal on a major climate legislation package.

“The package sets aside $60 billion for clean energy manufacturing in the U.S., including $30 billion in production tax credits for solar panels, wind turbines, batteries and critical minerals processing and $10 billion in investment tax credits to build manufacturing facilities that make electric vehicles and renewable energy technologies,” reports The New York Times.

Labor unions and progressives have been calling for government incentives for domestic manufacturing to help propel the US as a leader in renewable energy. This deal provides the financial boost to help make that happen.

In addition to the tax credits, the climate package also “sets aside $27 billion toward a ‘green bank’ aimed at deploying clean energy projects, particularly in disadvantaged communities.”

For more on this historic development, visit The New York Times here.

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