Senate Democrats Strike Deal on Climate Spending Bill
After lengthy negotiations, Senate Democrats on Wednesday announced a long-anticipated reconciliation package that would curb carbon emissions by 40% by the end of the decade. The bill would offer some $433 billion in new spending.
The proposal will establish a 15% corporate minimum tax for large companies, allot $124 billion to the IRS for enhanced tax enforcement, and close the so-called carried-interest loophole.
The bill carves out $20 billion to support climate-smart agricultural practices within already existing programs like the Environmental Quality Incentives Program (EQIP), Conservation Stewardship Program (CSP); and others. Another $1 billion would go to boost USDA conservation technical assistance as well.
The proposal will establish a 15% corporate minimum tax for large companies, allot $124 billion to the IRS for enhanced tax enforcement, and close the so-called carried-interest loophole.
The bill carves out $20 billion to support climate-smart agricultural practices within already existing programs like the Environmental Quality Incentives Program (EQIP), Conservation Stewardship Program (CSP); and others. Another $1 billion would go to boost USDA conservation technical assistance as well.