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US ports eye $3bn for electrification from Inflation Reduction Act

August 9, 2022


The U.S. ports are set to benefit from a $3 billion worth of funding round intended for electrification and emission reduction.

The funding has been included in the long-awaited Inflation Reduction Act that was adopted in the U.S. Senate on August 7. The House is expected to return from recess to pass the bill later this week, and then it will move for signature to the U.S. President.

As explained by the Senate Democrats, the legislation will make a “historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030.”

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