On the list

Source: BY KELSEY TAMBORRINO, Politico • Posted: Tuesday, June 23, 2020

House Democratic leaders on Monday unveiled the text of a broad $1.5 trillion infrastructure bill that includes billions for clean energy and clean water. “Those who don’t believe in climate change, tough luck,” Transportation Chair Peter DeFazio said when announcing the bill last week. “We’re going to deal with it.”

The bill, H.R. 2 (116), would pour tens of billions of dollars into modernizing the electric grid, investing in clean water projects and extending a host of clean energy tax credits, Pro’s Anthony Adragna, Eric Wolff, Gavin Bade and Ben Lefebvre report.

House Speaker Nancy Pelosi speaks during a news conference at the U.S. Capitol on June 18, 2020 in Washington, D.C. Pelosi discussed the House Democrats' new infrastructure bill, called

House Speaker Nancy Pelosi speaks during a news conference at the U.S. Capitol on June 18, 2020 in Washington, D.C. Pelosi discussed the House Democrats’ new infrastructure bill, called “The Moving Forward Act.” | Photo by Drew Angerer/Getty Images

Some of the toplines: The legislation would extend the 30 percent Investment Tax Credit for solar projects until 2025, after which it would gradually step down to 10 percent in 2028. The Production Tax Credit would also be extended to 2025, as would the 45Q tax credit for carbon capture and sequestration projects.

— The Transportation Department would be required to issue an annual report ranking states by their carbon emissions reductions. The top 15 states would be able to use federal funds to pay for state-approved parts of the transportation projects. For the bottom 15 states, the department would postpone issuing 10 percent of the project budget until improvements were made.

 It includes $250 million annually for five years for grants to states to improve the natural gas distribution program and $2 billion over five years to help address orphaned oil and gas wells on public lands.

— FERC would be directed to issue a report and begin a rulemaking process to increase the construction of interstate transmission lines, which experts consider essential to fostering renewable energy growth.

— $46.5 billion for water infrastructure projects and an additional $2.5 billion for regional cleanups that the Trump administration has previously proposed cutting.

Timeline: House leaders expect to bring the bill to a vote before July 4.But it faces an uncertain path forward amid opposition from Republicans, who call it a Democratic wish list.