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17 - Biden and Congress Open the Checkbook

from Part IV - Finance and the Transition

Published online by Cambridge University Press:  07 December 2023

Jay S. Golden
Jay S. Golden
Affiliation:
Syracuse University, New York
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Summary

The USA has never witnessed such a large infusion of federal funding to address the green technology, renewable energy, and climate mitigation transitions. The Biden Administration has infused unprecedented amounts of funding but without fully addressing the unintended consequences and risks that come with the tremendous opportunities.

Keywords

Inflation Reducation ActBipartisan Infrastructure Billgreen-tech loanstax creditsinvestment tax creditsclean energy production tax creditsoffshore wind
Type
Chapter
Information
Dynamic Sustainability
Implications for Policy, Markets and National Security
 , pp. 253 - 260
Publisher: Cambridge University Press
Print publication year: 2023

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References

The White House (2022). Remarks by President Biden on the Inflation Reduction Act of 2022. July 28. www.whitehouse.gov/briefing-room/speeches-remarks/2022/07/28/remarks-by-president-biden-on-the-inflation-reduction-act-of-2022.Google Scholar
Bloomberg (2022). China Threatens Action against “Discriminatory” US EV Tax Breaks. September 22. www.bloomberg.com/news/articles/2022-09-22/china-threatens-action-against-discriminatory-us-ev-tax-breaks#xj4y7vzkg.Google Scholar
Fox News (2021). Biden to Sign Bipartisan Infrastructure Bill on Monday. www.foxbusiness.com/politics/biden-to-sign-bipartisan-infrastructure-bill-on-monday.Google Scholar
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Fox News (2021). Manchin Kills Build Back Better and Gives Nation – and Republicans – a Big Win. December 19. www.foxnews.com/opinion/manchin-kills-build-back-better-nation-republicans-win-david-marcus.Google Scholar
Gov. (2022). Public Law 117–169. 117th Congress. www.govinfo.gov/content/pkg/PLAW-117publ169/pdf/PLAW-117publ169.pdf.Google Scholar
CNN (2022). Biden Signs Inflation Reduction Act into Law. August 16. www.cnn.com/2022/08/16/politics/biden-inflation-reduction-act-signing/index.html.Google Scholar
McKinsey and Company (2022). The Inflation Reduction Act: Here’s What’s in It. https://avidsolutionsinc.com/wp-content/uploads/2023/06/the-inflation-reduction-act-heres-whats-in-it_final.pdf.Google Scholar
Department of Energy (2022). Inflation Reduction Act of 2022 Loan Programs Office. www.energy.gov/lpo/inflation-reduction-act–2022.Google Scholar
National Law Review (2022). The Inflation Reduction Act: Key Provisions Regarding the ITC and PTC. December 17. Volume XII, Number 351.Google Scholar
Forbes (2022). Inflation Reduction Act Benefits: Clean Energy Tax Credits Could Double Deployment. August 28. www.forbes.com/sites/energyinnovation/2022/08/23/inflation-reduction-act-benefits-clean-energy-tax-credits-could-double-deployment/?sh=710834f67272.Google Scholar
National Conference of State Legislatures (2022). Inflation Reduction Act of 2022 Provisions by the National Conference of State Legislatures. Issued at the Council of States Conference, August 2022. https://documents.ncsl.org/wwwncsl/State-Federal/NCSL-Summary-Inflation-Reduction-Act.pdf.Google Scholar
CNBC (2022). EU Says It Has Serious Concerns about Biden’s Inflation Reduction Act. www.cnbc.com/2022/11/07/us-inflation-reduction-act-eu-raises-concerns-risks-wto-dispute.html.Google Scholar
France 24 (2022). Why EU Leaders Are Upset over Biden’s Inflation Reduction Act. December 16. www.france24.com/en/europe/20221216-why-eu-leaders-are-upset-over-biden-s-inflation-reduction-act.Google Scholar

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