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Thursday, July 28, 2022

SMO INTERNAL BRIEF: The Death of BBB

Overall, BBB contained $555 billion to curb emissions that would have accelerated the energy transition and spurred fleet electrification.  

Items that died with the bill: 
    - a $12,500 EV tax credit
    - funds to build charging stations and update the grid to accommodate more renewably sourced energy
    - It would have boosted industry through grants, loans, tax credits, and procurement to drive capital investment in the decarbonization of American energy usage

Overall impact: There was not a lot of confidence in this bill to begin with so the market was not banking on it.  

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