Saturday, August 20, 2022

Major US Climate Steps Through the Inflation Reduction Act

Amidst the cacophony of new cycle clutter this week, something happened that isn't getting the media recognition that it should. (Which sadly sometimes happens in given the noisiness of partisan politics here in the USA.):

This week in the United States, some monumental steps went forward with Congress passing the bipartisan Inflation Reduction Act [IRA] which President Biden signed it into law. Not only is it the biggest climate action we've taken as a country, it also serves as the largest US federal investment in clean energy. Finally, it's a move towards taking action and addressing the climate crisis
  • Electric vehicles will be cheaper, as will solar panels.
  • We finally have a united push to cut greenhouse gases by 2030.
  • Tax credits will be available to individual for using energy efficient technology.
  • There are incentives in place that will potentially influence companies and corporations to push clean options over polluting ones. 
  • The same is true for innovative entreprenuers to push to creating new companies, new techonologies, and new jobs
  • Environmental justice is factored in by protecting those who live in impoverished areas and who typically get the brunt of ecological injustice.
More than that too, it will feel real in our pockets as it caps out-of-pocket Medicare drug costs and reduces other health care costs, it closes tax loopholes used by the wealthy, and it also financially protects small business owners.

That's just a quick snapshot, but for a better one, check out this one-page Democratic fact sheet summary of the IRA.

Additionally, here are some great articles to learn more of how we are finally moving in the right direction climate-wise through the passing of this act:
  • President Biden's 8/16/2022 tweet and the one minute video in it (make sure to watch it!):
The climate provisions I sign into law today are a big deal. Let me explain why:
— President Biden (@POTUS) August 16, 2022

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