Senate passes sweeping climate-focused Inflation Reduction Act
After more than a year of infighting, President Joe Biden’s climate agenda has cleared a significant hurdle. On Sunday, Senate Democrats passed the Inflation Reduction Act of 2022 in a 51-50 decision that went along party lines and saw Vice President Kamala Harris cast the tie-breaking vote, reports. If passed by the House, the 755-page bill would authorize the single largest expenditure to combat climate change in the nation’s history.
On top of EV subsidies, the $370 billion in investments set aside by the bill would incentivize the building of wind, solar and other renewable power sources. The act also calls for the creation of a $1.5 billion program that would pay companies that reduce their methane output.
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