The 2022 climate and tax deal is almost done. As Joe Manchin (D–WV) describes it, the bill will reduce the deficit while also investing in renewable energy infrastructure and reducing greenhouse gas emissions. The bill also lowers health care costs and will lead to a 40% reduction in US carbon emissions by 2030.
The key to the bill’s success is the realization that the growth of wind and solar energy production is largely due to tax credits. This bill uses that knowledge to invest in specific technologies needed to achieve President Biden’s climate goals.