Climate change looms large in Democrats’ Inflation Reduction Act, signed into law by President Joe Biden on Tuesday. The legislation will spend $369 billion over the next decade on a portfolio of energy and climate issues, primarily in the form of new and expanded tax credits for both manufacturers and consumers—the largest federal climate investment ever, and much more than the bill’s roughly $80 billion in spending on the IRS and $64 billion for expanded health insurance subsidies ($300 billion in revenue will go toward deficit reduction).
Price St. Clair is a former reporter for The Dispatch.
