THE U.S. ENERGY SECURITY AND CLIMATE PACKAGE

 $369 billion in energy security climate spending over the next 10 years The bill curbs the country’s carbon emissions by roughly 40% by 2030.

$37 billion a year for climate and renewable energy

1. Investments in hydrogen, nuclear and renewable energy, fossil fuel and energy storage technologies
2. Investing in domestic energy production and manufacturing
3. New production tax credits for nuclear power and clean hydrogen.
4. Tax credits for technologies like wind, solar, geothermal, energy storage, fuel cells and microgrid controllers.
5. Increases the tax incentives for wind and solar projects built in low-income communities.
6. $2 billion to the Dept of Energy for loans for transmission projects in “national interest corridors,”
7. $760 million to facilitate interstate power lines,
8. $100 million for interregional and offshore wind transmission planning and analysis.
9. incentives for consumers to make their homes more efficient and electrify them.
10. requires the Interior Department to offer at least 2 million acres of public lands and 60 million acres of offshore waters for oil and gas leasing each year for a decade as a prerequisite to allowing new solar or wind on federal land or in federal water

Manufacturing clean energy products

1. $10 billion investment tax credit to manufacturing facilities for things like electric vehicles, wind turbines, and solar panels
2.  $30 billion for additional production tax credits to accelerate domestic manufacturing of solar panels, wind turbines, batteries and critical minerals processing.
3. Up to $20 billion in loans to build new clean vehicle manufacturing facilities across the U.S.,
4. $2 billion to revamp existing auto plants to make clean vehicles.

Cutting emissions,

1. $20 billion for the agriculture sector
2. $3 billion to reduce air pollution at ports.
3. Unspecified funding for a program to reduce methane emissions, which are often produced as a byproduct of oil and gas production
4. $9 billion for the federal government to buy American-made clean technologies
5. $3 billion for the U.S. Postal Service to buy zero-emission vehicles.

Research and development

1. $27 billion clean energy technology accelerator to support deployment of technologies that curb emissions
2. $2 billion for breakthrough energy research in government labs.

Preserving and supporting natural resources

1. $5 billion in grants to support healthy forests, forest conservation, and urban tree planting
2. $2.6 billion in grants to conserve and restore coastal habitats.

Support for states

1. $30 billion in grant and loan programs for states and electric utilities to advance the clean energy transition.

Environmental justice initiatives

1. More than $60 billion for environmental justice communities, including $3 billion in environmental and climate justice block grants  to address the unequal effects of pollution on low-income communities and communities of color.

For individuals

1. a $7,500 tax credit to buy new electric vehicles
2. $4,000 credit for buying a used one.

Both credits would only be available to lower and middle income consumers.