Marketplace Tech

Climate tech could see big funding boost if Senate bill goes through


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Climate and energy projects could see $370 billion in fresh funding thanks to a bill proposed by Senate Democrats. It’s called the Inflation Reduction Act, and it would also revise the tax code and reduce drug prices. In a surprise turn, it appears to have been developed with the support of Sen. Joe Manchin of West Virginia, potentially paving the way for the bill to pass. Marketplace’s Meghan McCarty Carino speaks with Jay Koh, managing director at the Lightsmith Group, a private-equity firm that invests in climate technology. He’s read the lengthy bill and says it would be a game changer for climate tech. It would inject four times more funding than the last big federal infusion in the 2009 stimulus bill.

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