President Joe Biden has signed into law a new version of the budget reconciliation bill Congress had been negotiating 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.
