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Historic climate bill to supercharge clean energy industry
On August 7, Senate Democrats passed the Inflation Reduction Act, which would speed greenhouse gas cuts and put the U.S. on track to meet the Biden Administration’s emissions reduction targets. The bill consists of $369 billion in climate and energy provisions that will transform the country’s climate and industrial policy, including tax credits to encourage energy efficient homes and vehicles, the expansion of renewable energy production, and grants to address environmental justice, among other provisions.
Senate Majority Leader Chuck Schumer teed up the final vote, calling the legislation “the boldest climate package in U.S. history.”
The legislation now heads to the House of Representatives.
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