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Thursday, August 4, 2022

U.S. Senator Joe Manchin backs $369 billion energy and climate bill: Infrastructure Reduction Act

 Overall, this bill is incredibly favorable to Panasonic.

Several key measures include: 
  • The creation of a new clean commercial tax credit for EVs
  • A long-term extension of the light-duty EV tax credit, with additional modifications
  • A long-term extension of the Alternative Fuel Refueling Property Tax Credit (Section 30C) with a lift of the project cap and bidirectional charging included
  • $3 billion in funding to electrify the U.S. Postal Service
  • $60 million for the Diesel Emission Reduction Act program
  • $2 billion for the Domestic Manufacturing Conversion Grant program
  • $3 billion for the Advanced Technology Vehicle Manufacturing program
  • A long-term extension of the Advanced Manufacturing Production Credit
  • $600 million for a Clean Heavy-duty Vehicle Grant program
  • $2.25 billion to reduce air pollution at ports through deploying zero-emission technology
  • A strong Environmental and Climate Justice Block Grant program
  • A strong Greenhouse Gas Reduction Fund
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