Largest Investment for Climate Crisis
- Aug 9, 2022 12:57 pm GMT
“the largest investment ever in combatting the existential crisis of climate change.” - President Biden
The Inflation Reduction Act of 2022 was approved by the U.S. Senate on Sunday with a 51–50 majority, with Vice President Kamala Harris casting the deciding vote. The package allows about $370 billion for investments and incentives focused on climate and energy, in addition to enacting a 15 percent corporate minimum tax and provisions intended to reduce the cost of prescription medications.
Measures to lower the cost of renewable energy solutions for consumers, encourage the growth of domestic clean energy manufacturing capacity, support climate solutions to decarbonize
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