August 10, 2022 3:00 a.m. 

Legislation authored by Senator Ron Wyden recently passed the Senate as part of the Inflation Reduction Act.

A release said Wyden’s “Clean Energy for America Act”, first introduced in 2015, will reform the energy tax code to incentivize emissions reductions rather than specific technologies.

Wyden said the proposal would reduce carbon emissions in the power sector by 70 percent over the next decade. He said it is the main driver of the overall 40 percent reduction in emissions achieved by the Inflation Reduction Act.

Wyden said, “This bill will reduce energy costs, secure our energy independence, and drastically cut carbon emissions. For the first time, the tax code is going to reward emissions reductions, and encourage the development of new clean energy technologies as soon as they come online”. Wyden said, “Importantly, this is permanent energy policy. Congress will no longer need to extend these incentives every few years, giving companies and states certainty to plan clean energy projects and create jobs. This is among the most consequential bills of my service in the Senate”.

The measure moves to the House, which is expected to vote on the legislation on Friday.

Full details are linked: https://www.wyden.senate.gov/news/press-releases/wyden-clean-energy-prescription-drug-pricing-legislation-passes-senate