August 9, 2022
Source: Oregon Capital Chronicle
Clean energy developers, farmers, ranchers, forest and home owners in Oregon are slated to get hundreds of millions of dollars in grants, tax credits and incentives from legislation that passed the U.S. Senate this weekend.
The Inflation Reduction Act of 2022, an umbrella name for a climate and energy package that includes provisions for health care, could go to the U.S. House for a final vote as soon as Friday and is likely to pass under the Democratic majority. It is expected to cost more than $700 billion during the next decade, slightly more than the $660 billion in subsidies the coal, oil and natural gas industries received in 2020 alone, according to a report from the International Monetary Fund.
Read more: U.S. Senate bill seen as big win for Oregon