Foreigners Will Benefit From U.S. Climate Subsidies, and That Is Good News - The Wall Street Journal
Foreigners Will Benefit From U.S. Climate Subsidies, and That Is Good News - WSJ
July 26, 2023 12:01 am ET
Foreign firms are shaping up to be some of the biggest beneficiaries of America’s new climate-focused industrial policy law, the Inflation Reduction Act. Japan’s Panasonic, for example, estimates it could reap $2 billion a year from tax credits associated with battery plants in Nevada and Kansas.
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Related Knowledge Center: Climate legislation
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.