Bill > HR2946

This bill directs the Secretary of the Treasury to establish and issue Clean Energy Victory Bonds (CEVBs) as a voluntary financial instrument to support clean energy initiatives in the United States. Under the proposed legislation, these bonds would be available in denominations starting at $25, with an annual issuance cap of $50 billion, and would bear interest at a rate similar to existing savings bonds plus an additional return based on energy savings and loan interest. The bonds would create a dedicated trust fund to finance various clean energy projects, including energy efficiency upgrades, federal agency investments, electric grid enhancements, building renovations, tax incentives, innovation research, and zero-emission vehicle infrastructure. Importantly, the bill mandates that at least 40% of the funds be directed to disadvantaged and vulnerable communities that have historically borne disproportionate environmental burdens. The legislation is inspired by World War II Victory Bonds and aims to address climate change, reduce greenhouse gas emissions, create green jobs, decrease dependence on foreign oil, and accelerate the United States' transition to clean energy technologies. The bill's findings highlight that while many clean energy technologies were originally invented in the U.S., countries like China and Germany are currently leading in their manufacturing and deployment.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2946/all-info