- 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: pic.twitter.com/b4QTqXGSaz— President Biden (@POTUS) August 16, 2022
- The Congressional Progressive Caucus Center's Analysis of Climate and Energy Provisions in the “Inflation Reduction Act of 2022"
- NPR's article "Biden Signs Sweeping Climate, Health Care, Tax Bill Into Law" by Barbara Sprunt
- Time Magazine's article "Biden Just Signed the Inflation Reduction Act. Now the Hard Work on Climate Really Begins" by Justin Worland
- The Center of American Progress' article "How the Inflation Reduction Act Will Drive Global Climate Action"
- The Citizens Climate Lobby's post by Steve Valk: "This Major Climate Bill is Signed, Sealed, Delivered. Good Job, Everyone."
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