Largest-ever climate change bill headed to Biden’s desk

Democrats have succeeded in sending the largest-ever bill aimed at countering climate change to President Joe Biden’s desk for signature.

The Inflation Reduction Act bill will pour roughly $370 billion into energy security and climate change programs over the next decade, including efforts aimed at slashing greenhouse gas emissions by roughly 40% of 2005 levels before the year 2030.

Its passage cements a major legislative victory for Democrats, who have fought to push through climate legislation for more than a decade — and lawmakers from all corners of the party have praised the bill.

The bill is far short of the Green New Deal envisioned by left-wing Democrats, as well as the plans that Biden outlined on the campaign trail. And it doesn’t include much in the way of specific restrictions and limitations on fossil fuels, which were opposed by centrist Sen. Joe Manchin (D-WV). Instead, it subsidizes and incentivizes zero-emissions energy sources and electric vehicles.

Continue Reading…