As we mentioned in our blog post a few weeks back, the American Jobs Plan introduced by President Biden contains a variety of climate and clean energy-related funding and programs which would impact nearly all sectors of the economy and our society and all 50 states. Below is a brief breakdown of the proposed plan by sector, drawn in part from a fact sheet developed by our friends at the Chesapeake Climate Action Network Action Fund. State-by-state factsheets are also available from the White House showing how the American Jobs Plan may impact each state.
- The plan contains $400 billion in direct payments to build out renewable energy infrastructure across the country by extending existing tax credits for renewable energy and allowing companies to instead receive them as direct payments. This spending would be combined with energy efficiency and clean energy standards, requiring 100% carbon-free electricity by the year 2035.
- In addition, the plan calls for $46 billion in clean energy investments through federal procurement.
- $213 billion is included in the American Jobs Plan to build two million energy efficient affordable housing units. This would include passing the Neighborhood Homes Investment Act to build homes in under-served areas as well as tax credits for all electric, efficient, and affordable housing units.
- $10 billion is earmarked to reduce emissions from federal office buildings.
- As mentioned in our earlier blog post, the plan calls for $174 billion to go toward electric vehicle adoption, including consumer rebates, building out charging infrastructure through 500,000 charging stations, and converting the federal vehicle fleet to American-made electric vehicles (EVs) from internal combustion engine cars.
- The plan also calls for research funding for climate solutions such as utility-scale grid storage and floating wind turbines.
- It also calls for $16 billion to cap old abandoned oil wells to prevent the further leakage of methane, a potent greenhouse gas.
- The American Jobs plan proposes $27 billion for a new Clean Energy and Sustainability Accelerator to build out climate solutions in communities who have historically not yet benefited from the clean energy industry.
The timeline for a vote on the American Jobs Plan is unclear, but President Biden and Vice President Harris are meeting with members of Congress from both parties in an attempt to reach bipartisan agreement, and several administration officials, including Transportation Secretary Pete Buttigieg and Energy Secretary Jennifer Granholm, are touting the plan to the public as well. Stay tuned for more updates.