Thread by @EvergreenAction

The Build Back Better Act must deliver on @POTUS’ commitment to halve climate pollution by 2030.

The bill's clean energy tax credits are critical to that effort. 🧵 on what they are, Evergreen's role shaping them, and why they must be protected (or expanded) in the final bill.👇

The latest version of BBBA includes ~$300B in clean energy tax credits for:

✅ Clean electricity
✅ Clean transportation
✅ Clean manufacturing & industry
✅ Clean buildings

Together, these tax credits are by far the largest driver of pollution reductions in the BBBA.

So what are these tax credits?

We laid out a bold vision for clean energy tax credits in the Evergreen Action Plan and in the Clean Jumpstart Plan with our pals at @DataProgress.

More recently our @blellison55 & @SamTRicketts laid it out this memo. collaborative.evergreenaction.com/policy-hub/cle…

We need the full suite of tax credits, across sectors, extended for 10 years at full value, and turned into direct-pay or made refundable.

We need them tied to labor standards that support good union jobs, and drive investments in disadvantaged communities.

BBBA delivers ✅

Transitioning to 100% clean electricity is the linchpin of economy-wide decarbonization. That’s job #1.

Clean electricity tax credits will help accelerate the buildout of clean power infrastructure, storage, transmission, & distributed renewable projects.

We’ve called for 10-year, full-value, direct-pay production and investment tax credits for renewable energy, extended to storage and transmission, tied to labor standards, and expanded for projects in disadvantaged communities. That’s now all in the BBBA ✅

Transportation is the largest source of carbon pollution in the US—and cars+trucks make up the bulk of that.

Tax credits in the Build Back Better Act will bring down the cost of electric vehicles. We called for bigger EV tax credits for electric cars built with union labor. ✅

Credits for advanced energy manufacturing and industrial decarbonization will create jobs, clean up some of the hardest-to-decarbonize sectors, and help the US lead the world in clean 21st century industries.
BBBA delivers ✅

Decarbonizing our buildings is essential to hitting our climate goals. Tax credits in the Build Back Better Act can help increase efficiency, improve air quality, and save Americans money on their energy bills. And, as always, they will create jobs ✅

Again, all these credits must be designed to provide long-term support for US industries. They must be equitable—offering credits as direct-pay grants, tying them to labor standards that promote good union jobs, and expanding credits for projects in disadvantaged communities.

But wait, there’s more—on climate, everyone can always do more. Clean energy tax credits in the BBBA can do more to support climate action and good-paying American clean energy jobs.

This too is explained in our recent memo. collaborative.evergreenaction.com/policy-hub/cle…

Here’s how:
🏡🏩 Make 25C+25D credits direct-pay for building electrification and rooftop solar.
🔋😎 Create manufacturing tax credits for solar, advanced batteries+wind power.
👩‍🏭🏭 Expand the 48C credit to traditional manufacturing facilities that reduce their climate pollution.

And while we’re near the topic, we must end fossil fuel subsidies.

There is no excuse to be spending taxpayer dollars propping up the fossil fuel industry as it drives the climate crisis and poisons our communities.

It’s time to help the people combatting the climate crisis, not the ones causing it.

Congress and @POTUS must deliver these clean energy tax credits, accelerate our transition to clean energy, and create jobs and a more just country in the process. collaborative.evergreenaction.com/policy-hub/cle…