Senate Climate Bill Is a Boon for Fossil Fuels

WASHINGTON—Senate Democrats are moving forward on the costliest and most ambitious effort ever by the U.S. to address climate change—powered in part by benefits for fossil fuels and the broader energy industry.

The proposed $369 billion compromise bill struck by Senate Majority Leader Chuck Schumer (D., N.Y.) and Sen. Joe Manchin (D., W. Va.) includes tax incentives aimed at channeling billions of dollars to wind, solar and battery developments that put clean power onto the grid.

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