5 ways the new Inflation Reduction act bill will fight climate change – NBC News

by | Aug 9, 2022 | Climate Change

More clean energy, less dirty energy, new punishments for methane leaks and billions of dollars for communities most in need of climate-related help — those are the provisions that have environmentalists celebrating what they see as a monumental step for U.S. climate action.Senate Democrats on Sunday passed a sweeping bill, known as the Inflation Reduction Act, that includes hundreds of billions of dollars to fight climate change.The package calls for major spending to tackle the climate crisis, in addition to extending health care coverage and reducing the deficit. On top of tax credits to provide incentives for electric vehicles and clean energy, the bill aims to expand renewable energy production and fund the development of technologies to remove carbon dioxide from the atmosphere.While the climate part of the legislation was significantly pared down from the Biden administration’s original ambitions in the Build Back Better Act, experts say that if the bill is enacted, it would be the largest investment to address global warming in U.S. history and that it would reduce the country’s greenhouse gas emissions.Dan Lashof, the U.S. director of the World Resources Institute, a Washington-based nonprofit research group, called the bill “transformative,” adding that it was the culmination of decades of work to enact meaningful climate legislation.”It would be hard to overstate what a pivotal moment this was with the Senate,” he said at a news briefing Monday.From cutting emissions to helping the U.S. economy make the transition away from fossil fuels, here are five ways the Inflat …

Article Attribution | Read More at Article Source

Share This