H.R.2946 - Clean Energy Victory Bond Act of 2025 (119th Congress)
Summary
H.R.2946, the Clean Energy Victory Bond Act of 2025, directs the Secretary of the Treasury to issue Clean Energy Victory Bonds. The proceeds from these bonds would be used to finance clean energy projects at the federal, state, and local levels. The bill aims to promote renewable energy, energy efficiency, and reduce reliance on foreign oil.
Expected Effects
The Act would establish a Clean Energy Victory Bonds Trust Fund within the Treasury. This fund would support various clean energy initiatives, including grants, tax incentives, and research funding. A minimum of 40% of the funds must be directed towards projects in disadvantaged and vulnerable communities.
Potential Benefits
- Increased investment in renewable energy and energy efficiency projects.
- Creation of green jobs throughout the nation.
- Reduced dependence on foreign oil and improved energy security.
- Mitigation of climate change effects through reduced greenhouse gas emissions.
- Financial participation for Americans in combating climate change.
Potential Disadvantages
- Potential increase in national debt if the bond program is not managed effectively.
- Risk that projects funded may not yield the expected economic or environmental benefits.
- Administrative costs associated with managing the bond program and trust fund.
- Possible market distortion if the bonds compete with other investment options.
- The rate of return on the bonds is determined by the Secretary, which may not be favorable to investors.
Constitutional Alignment
The bill's alignment with the Constitution is primarily based on the General Welfare Clause (Article I, Section 8), which allows Congress to collect taxes and provide for the general welfare of the United States. The issuance of bonds and the allocation of funds to clean energy projects fall under this purview. The Act does not appear to infringe upon any specific individual rights or liberties protected by the Bill of Rights.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).