Economy

Investor's guide to Build Back Better

By David Callaway, Callaway Climate Insights

(Bill Sternberg is a veteran Washington journalist and former editorial page editor of USA Today.)

WASHINGTON, D.C. (Callaway Climate Insights) — Let’s start at the very beginning. What is Build Back Better?

Build Back Better (BBB) is the Biden administration’s plan to spend some $2 trillion over the next 10 years on social and climate programs. It should not be confused with, but often is confused with, the Bipartisan Infrastructure (BIF) bill, a $1 trillion public-works plan that was signed into law last month with support of members from both parties.

Why should climate investors care about BBB?

BBB contains $555 billion in climate-related spending and tax credits. If it passes, it would represent the most significant action on climate change ever taken by the United States government, and it would make a significant dent in America’s greenhouse gas emissions. That, to quote what Joe Biden said about the enactment of Obamacare, would be a BFD. . . .

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