A House Bipartisan proposal, which is expected later this week, aims to invest significantly in clean energy infrastructure technology and tax incentives to reduce greenhouse gas emissions over the next 30 years. The House Bill would create a clean electricity standard for the power sector designed to reduce carbon dioxide emissions by 80% by 2050. The standard calls for expanded resources for technology for carbon capture, use and storage, and would establish a revamped regulatory framework to modernize the energy grid. The Bill would shift enforcement of power sector carbon dioxide emissions from the Clean Air Act to the policy framework mandated in the proposal. It also increases the amount of time for companies to take advantage of the 45Q tax credit, designed to reduce carbon emissions by encouraging recipients to capture carbon.
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