Cookie Control

This site uses cookies to store information on your computer.

Some cookies on this site are essential, and the site won't work as expected without them. These cookies are set when you submit a form, login or interact with the site by doing something that goes beyond clicking on simple links.

We also use some non-essential cookies to anonymously track visitors or enhance your experience of the site. If you're not happy with this, we won't set these cookies but some nice features of the site may be unavailable.

By using our site you accept the terms of our Privacy Policy.

(One cookie will be set to store your preference)
(Ticking this sets a cookie to hide this popup if you then hit close. This will not store any personal information)

"Wealthy Homeowners Nab Billions In Tax Credits For Energy Efficiency"

"IRS data shows a huge disparity between rich and poor in a major Biden climate effort."

"Wealthy homeowners are scooping up billions of dollars in tax credits for making their residences more energy efficient, while the poor are getting almost nothing under the same Biden administration effort.

That’s according to an analysis by POLITICO’s E&E News of a tax credit program that was expanded under President Joe Biden and is designed to spur homeowners to buy solar panels, insulation materials and other items that can reduce energy bills and home emissions.

The analysis found that households with income of $200,000 or more got $2.2 billion in tax credits. Meanwhile, households with income below $25,000 got a fraction of that amount — $32 million in tax credits — even though they vastly outnumber their affluent counterparts."

Thomas Frank reports for E&E News August 16, 2024.

Source: E&E News, 08/20/2024