The EPA calls for bids for $4.6 billion in grants, aiming to bolster state and local climate action plans and reduce greenhouse gas emissions.
Environmental Protection Agency (EPA) has taken a significant step forward in the fight against climate change by inviting bids for $4.6 billion in grants. These grants are aimed at aiding state, local, and tribal governments in implementing climate action plans to lower greenhouse gas emissions.
This competitive grant program is a part of President Joe Biden’s Inflation Reduction Act (IRA) and is designed to build upon plans developed using $250 million of funding previously allocated by the EPA under the same program. “State and local action is vital to deliver on President Biden's commitment to reduce climate pollution by 50-52% by 2030,” the EPA emphasized in a statement.According to Reuters,
The grants will be distributed in two tranches. The first tranche will award between 30 to 115 grants, ranging from $2 million to $500 million, through a general competition. The second tranche, specifically for Tribes and territories, will award 25 to 100 grants, ranging between $1 million and $25 million.
An EPA report revealed that the U.S. economy is poised to emit between 35% and 43% less carbon dioxide by 2030 from 2005 levels, thanks to the IRA, which provides billions of dollars in tax credits to aid consumers in buying electric vehicles and companies in producing renewable energy.The EPA’s call for bids is a crucial move in the global effort to combat climate change, reflecting the urgency to act at state and local levels to implement effective climate action plans. This initiative is a testament to the government's commitment to reducing greenhouse gas emissions and supporting communities most affected by climate change, paving the way for a more sustainable and resilient future.
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