The White House is finalizing legislation to quintuple clean energy subsidies to support green jobs

The Biden administration this week passed new rules aimed at helping clean energy companies, as the White House argued that investments would help energy communities even before the environmental movement.

The regulations set out guidelines for subsidies that businesses can qualify for under the Inflation Control Act, provided they pay, among other things, prevailing wages.

Eligible projects using nuclear, solar, wind and other green energy sources can five-time check whether they qualify for a tax credit under the Inflation Reduction Act.

“America has unleashed a boom in clean energy production and deployment that has attracted hundreds of billions of dollars in private sector investment and created more than 270,000 new, good-paying and union clean energy jobs,” the White House said in a statement about the announcement.

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“The final regulations ensure clean energy developers and workers can realize the benefits of President Biden’s historic investments in the clean energy economy,” the statement continued.

“These investments are flowing to places that President Biden has promised he would not leave behind, including historic energy communities that have powered this country for generations and economically distressed communities that provide jobs and economic opportunities, especially workers without higher education.

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John Podesta, a longtime Democratic activist who advises Biden on climate policy, said in a statement that the final rules assure workers that “clean energy jobs will be good jobs” because green energy has largely overtaken in that regard. fossil fuel sector.

Acting Labor Secretary Julie Su also praised the new rules, predicting in a statement that they would provide “real, tangible benefits to community workers across the country.”

In response to the announcement, a spokesman for the American Petroleum Institute said the oil and gas industry remains a major investor in the U.S. economy while supporting America’s future through lower carbon emissions.

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Meanwhile, the leader of a fossil fuel trade group told Fox News Digital that the administration should not take sides in supporting U.S. energy jobs.

“Rather than using taxpayer dollars to inflate the value of the jobs he favors, the president should stop his regulatory attacks on the future of workers in America’s oil, gas and petrochemical industries, as well as the millions of other Americans whose jobs these industries support,” he added. said Chet Thompson, president of American Fuel & Petrochemical Producers.

Fox News Digital also reached out to several top Democratic lawmakers involved in shaping energy policy but did not hear back.