H.R. 2946: Clean Energy Victory Bond Act of 2025
This bill, titled the Clean Energy Victory Bond Act of 2025, proposes the issuance of a new type of savings bond called "Clean Energy Victory Bonds." These bonds would be sold to the public and the money raised from their sale would be utilized to fund various clean energy projects throughout the United States.
Key Provisions
- Bond Issuance: The Secretary of the Treasury, in coordination with the Secretaries of Energy and Defense, will issue these bonds within six months of the bill's enactment.
- Face Amount: The total amount of these bonds issued each year will not exceed $50 billion.
- Denominations: The bonds will be available in denominations starting from $25, and they will be offered as Series EE savings bonds.
- Interest Rates: The bonds will accrue interest, which will be set similar to existing savings bonds, but with additional considerations for savings realized through reduced government energy spending due to funded projects.
- Promotion: The Secretary will undertake promotional activities to encourage the purchase of these bonds, including advertising and informational campaigns.
Use of Proceeds
The funds from the sale of Clean Energy Victory Bonds will be deposited into a newly established Clean Energy Victory Bonds Trust Fund. This trust fund will be used for:
- Financing clean energy projects at various governmental levels.
- Supporting efforts to enhance energy efficiency and support clean energy deployment.
- Providing funding for infrastructure improvements related to clean energy.
- Offering tax incentives and financial support for clean energy investments.
- Encouraging innovation in clean energy technologies through grants and competitions.
Community Focus
The bill ensures that at least 40% of the funds expended each year will go toward clean energy projects located in disadvantaged and vulnerable communities. These communities are defined as those facing adverse public health effects, significant environmental burdens, or with high concentrations of low-income households.
Historical Context
The concept of these bonds draws upon historical precedents, particularly akin to the Victory Bonds sold during World War II, which saw widespread public participation in fundraising for national efforts.
Potential Impact
The intention behind this bill is to enhance the United States' capability in clean energy production and efficiency, create jobs, and mitigate climate change impacts through greater investment in renewable energy technologies.
Relevant Companies
- NDAQ - Companies involved in the clean energy sector like solar, wind, and energy storage technology may see increased investment opportunities or demand for their services due to enhanced funding through this bill.
- TSLA - Tesla and other electric vehicle manufacturers might benefit indirectly through increased infrastructure development for electric vehicle charging stations and renewable energy projects.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
2 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| Apr. 17, 2025 | Introduced in House |
| Apr. 17, 2025 | Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
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