Biden’s $20B Clean Energy Grants Praised by Climate Task Force
TL/DR –
The New Democrat Coalition Climate Change and Clean Energy Task Force, chaired by Scott Peters, has issued a statement on the Biden administration’s selection of eight applicants to receive $20 billion to establish a national financing network for clean energy and climate solutions. The initiative is part of the $27 billion Greenhouse Gas Reduction Fund that was established through the Inflation Reduction Act. The grantees will reportedly mobilize $7 of private capital for every $1 of federal funds, financing numerous projects to reduce pollution and energy costs while also creating high-paying jobs, especially in disadvantaged communities.
April 04, 2024: New Dems Contribute to $27 Billion Greenhouse Gas Reduction Fund
On April 04, the New Democrat Coalition Climate Change and Clean Energy Task Force, headed by Chair Scott Peters (CA-50), released a statement concerning the Biden administration’s announcement of eight applicants set to receive $20 billion to establish a nationwide financing network for clean energy and climate solutions.
“For the U.S. to meet its climate objectives and cultivate the future clean energy economy, every community needs access to affordable financing for transformational projects. This led the New Dems to champion the creation of the groundbreaking Greenhouse Gas Reduction Fund via the Inflation Reduction Act,” the statement read.
“The grantees unveiled today will leverage $7 of private capital for every $1 of federal funds, supporting countless projects to decrease pollution and energy costs while boosting public health and creating high-paying jobs nationwide. Over 70 percent of the funds announced today are earmarked for underprivileged communities, ensuring no community is overlooked,” the statement continued.
“The New Dems are committed to working alongside the Administration to fulfill the Inflation Reduction Act’s potential, tackle the climate crisis, and build a clean energy economy that benefits every American,” concluded the statement.
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