One of President Joe Biden’s campaign promises was addressing and tackling climate change, a promise that up until a few weeks ago seemed like a large ask with stalled legislation.
But on August 16, President Biden officially signed the Inflation Reduction Act into law.
The act will include more than $360 billion to address climate change, the largest such investment aimed at reducing greenhouse gas emissions.
The aim is to push American consumers and industry away from reliance on fossil fuels, penalize fossil fuel companies for excess emissions of methane, and inject needed funds into pollution cleanup.
“This law finally delivers on promises Washington has made for decades to the American people,” Biden said.
The investment, spread over the next decade, is likely to cut pollution by around 40 percent below 2005 levels by 2030, according to three separate analyses by economic modelers at Rhodium Group, Energy Innovation, and Princeton University.
The bill also tackles other issues like the Affordable Care Act, the IRS, and prescription drug reform, as well as setting a corporate minimum tax to help address inflation in the US. There’s a mix of tax breaks added in to incentivize industry to move toward more renewable energy sources, like solar and wind.
“The Inflation Reduction Act takes the most aggressive action on climate and clean energy in American history,” the Whitehouse writes. “The legislation will bring down energy costs for families and create thousands of good jobs, all while reducing climate pollution and ensuring that we have a clean, secure future energy supply.”
Inspired to act?
DONATE: Consider donating to the Clean Air Task Force, an organization that works to promote clean air and clean up pollution.
SUPPORT: Find ways to be more sustainable in your daily life. Consider using the bus everyone once in a while, or riding a bike to work. Maybe try something like carpooling. Whatever we can to help the planet.