Bloomberg Tax
July 28, 2022, 8:11 PM

Here’s What’s in Democrats’ $370 Billion Climate Spending Deal

Ari Natter
Ari Natter
Bloomberg News

In a breakthrough that surprised much of Washington, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced Wednesday they agreed on a plan that includes a record $370 billion in spending to fight climate change.

The deal -- if it can pass muster with all 50 Democrats in the Senate, as well as progressives in the House -- would cut greenhouse gas emissions by about 40% by the end of the decade, according to analysts. That helps put the US on track to meet President Joe Biden’s goal of cutting emissions by as much as 52% from 2005 ...