​​​President Joe Biden has signed into law a new version of the budget reconciliation b​​ill Congress had been n​egotiating over the last several years. This final version contains several policy provisions of interest to electric cooperatives, including two of NRECA’s top legislative priorities.

  • Direct-Pay Incentives: Gives electric cooperatives tax parity with industry counterparts when they deploy new energy technologies, including carbon capture, nuclear, energy storage and traditional renewables.

  • USDA Financial Assistance for Clean Energy: Includes a $9.7 billion grant and loan program specifically for electric cooperatives that purchase or build new clean energy systems.

  • The bill includes no mandatory emission reductions or required closure of existing power plants. ​​