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Inflation Reduction Act’s $27 Billion in Green Funds Could Be Boon for Private Sector

The energy package recently passed by the Senate includes $27 billion for what are called green banks that funnel money into renewable projects, although some of the biggest beneficiaries could ultimately be private-sector investors.

The legislation allocates the money to a greenhouse-gas reduction fund, with about $20 billion earmarked for national or regional funds that would be overseen by the Environmental Protection Agency. The rest of the money is designed to go to state and local recipients.