National Climate Bank Proposals in the 117th Congress

The idea of a national climate bank has gained renewed attention. Congress last seriously considered a climate bank proposal in 2009 that would create the Clean Energy Development Administration (CEDA), with key functions based on the green bank model. Since then, national climate bank proposals have been introduced in the last several Congresses. This factsheet summarizes and compares six climate bank proposals that have been introduced so far in the 117th Congress (2021–2022), highlighting similarities and differences:

    • Clean Energy and Sustainability Accelerator Act (H.R. 806) introduced by Rep. Debbie Dingell (D-Mich.) on February 4, 2021
    • National Climate Bank Act (S. 283) introduced by Sen. Ed Markey (D-Mass.) on February 8, 2021
    • CLEAN Future Act (H.R. 1512) introduced by Rep. Frank Pallone (D-N.J.) on March 2, 2021
    • America’s Clean Future Fund Act (S. 685 and H.R. 2451) introduced by Sen. Dick Durbin (D-Ill.) on March 10, 2021 and by Rep. Marie Newman (D-Ill.) on April 12, 2021
    • LIFT America Act (H.R. 1848) introduced by Rep. Frank Pallone (D-N.J.) on March 11, 2021
    • The U.S. Green Bank Act (S. 1208 and H.R. 2656) introduced by Sen. Chris Murphy (D-Conn.) and Rep. James Himes (D- Conn.) on April 19, 2021