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Illustration: Sarah Grillo/Axios

Senior Democratic lawmakers in both chambers are unveiling climate and clean energy proposals this week.

Driving the news: Sen. Joe Manchin (W.Va), who chairs the energy committee, is proposing $8 billion in new tax credits to spur domestic manufacturing of climate-friendly technologies.

Why it matters: Manchin's vote is coveted for Democratic priorities in the narrowly divided Senate, which gives him lots of leverage.

  • E&E News points out that he's likely to use his bill as a "bargaining chip when Democratic leaders seek his support for broad climate action."
  • The bill would steer $4 billion of the incentives toward regions where coal mines or coal-fired power plants have closed — a priority for Manchin, whose state is a major coal producer.

How it works: The bill would support new or retooled factories to build carbon capture equipment, renewables and advanced grid components, electric cars and more.

  • The incentives are also available for upgrading factories to cut emissions, a summary notes.
  • The bill aims to revive an advanced manufacturing tax credit program first created in the 2009 economic recovery package.
  • Tax bills are under the jurisdiction of the Senate's finance committee. Co-sponsor Sen. Debbie Stabenow (D-Mich.) is on that panel.

What's next: Over in the House, leaders of the Energy and Commerce Committee will unveil sweeping climate legislation later today.

  • Watch for provisions that could move under the budget reconciliation process, which protects certain spending and tax measures from Senate filibusters.

Go deeper

Sen. Elizabeth Warren introduces "ultra-millionaire" wealth tax bill

Photo: Greg Nash-Pool/Getty Images

Sen. Elizabeth Warren (D-Mass.) on Monday introduced a bill in the Senate that would impose a new tax on the assets of America's wealthiest individuals.

Why it matters: The plan, which Warren introduced along with Reps. Pramila Jayapal (D-Wash.) and Brendan Boyle (D-Pa.) is similar to a proposal that was the centerpiece of Warren's campaign for the presidency in 2020.

Column / Harder Line

New England power fight foreshadows divisive clean energy future

Illustration: Sarah Grillo/Axios

It wasn’t his first choice, but Sean Mahoney isn’t fighting a 150-mile proposed power line sending Canadian hydropower to New England as part of the region’s climate-change goals.

Why he matters: Mahoney, a senior expert at the nonprofit Conservation Law Foundation who lives in Maine, is seeking to compromise in a bitter battle over the proposal. Expect more fights like this as President Biden and other political leaders pursue zero-carbon economies over the next 30 years.

Scoop: Wall Street titan joins Kerry's climate shop

Mark Gallogly (second from left). Photo: Alex Wong/Getty Images

Mark Gallogly, a Wall Street veteran and big-dollar Democratic donor, is joining John Kerry’s international climate team, people familiar with the matter tell Axios.

Why it matters: Hiring someone with Gallogly’s experience is an indication Kerry plans to leverage markets and investing strategies to address climate change. Gallogly is the highest-profile New York investor to sign on to the Biden administration.