U.S. to spend more than $500 billion on climate over a decade under three laws, study says
By Peter Henderson - 1h ago
(Reuters) - The U.S. government will spend more than $500 billion on climate technology and clean energy over the next decade under three recently enacted laws, an analysis by non-profit RMI found.
The tally is based on this month's Inflation Reduction and CHIPS acts and last year's Infrastructure Investment and Jobs Act. Together they fund climate-related research and pilot studies and support manufacturing.
"Together they form a coherent green industrial policy, in the sense that there are strategic industries that they focus on and a set of tools designed to accelerate production up and down the supply chain," said Lachlan Carey, co-author of the report, published on Monday.
The estimated $514 billion total includes $362 billion from the IRA, $98 billion from the infrastructure act and $54 billion from the bipartisan-supported CHIPS law, although Congress will have to pass further legislation for some of the funding to be released. The analysis excludes additional agriculture and land-related climate spending.
https://www.msn.com/en-us/news/us/u-s-to-spend-more-than-500-billion-on-climate-over-a-decade-under-three-laws-study-says/ar-AA10VpQ6?ocid=msedgntp&cvid=5c058e39d8e94be4b97f19bd23c1185b
