EnergyEnvironmentNew This WeekNewsletter

Inflation Reduction Act Paves the Way for Faster Transition to Clean Energy in the U.S.

The Inflation Reduction Act of 2022 has been signed into to law by President Biden and passed by the House and Senate. Issues addressed in the Act are climate change, taxes, healthcare and inflation.

According to Mercom, the Inflation Reduction Act would also help reduce greenhouse gas emissions by nearly one gigaton by 2030, or a billion metric tons, which is nearly ten times more than any other climate legislation ever enacted. The Environmental Protection Agency will oversee the ‘Greenhouse Gas Reduction Fund’ totaling $29 billion.

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