Key Energy Provisions of the American Recovery and Reinvestment Act of 2009
On February 17, 2009, President Barack Obama signed into law H.R. 1, the American Recovery and Reinvestment Act of 2009 (the Act). Enacting over $787 billion in appropriations and tax cuts, the Act authorizes many energy-related initiatives designed to encourage the development of renewable energy projects, energy efficiency, and the improvement of the national transmission grid.
In its entirety, the Act appropriates over $59 billion in grants and loan guarantees that are related to energy initiatives or environmental initiatives to be carried out by the Department of Energy. The Act also provides nearly $20 billion in several energy-related tax incentives available to individual and business taxpayers. The following summarizes the Act's key energy-related provisions.
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