![]() ![]() There are also a range of budget lines aimed at boosting the adoption of electric vehicles, making it cheaper for Americans and U.S. It also would extend tax credits that incentivize the development of wind and solar power projects, and expand them to cover newer energy technologies such as hydrogen power. It includes $60 billion for the domestic manufacture of clean energy components, in order to grow local supply chains for renewable energy infrastructure such as solar panels and wind turbines. ![]() economy, according to the Environmental Protection Agency. The act takes aim at transportation and electricity generation, the two most greenhouse gas-polluting sectors of the U.S. She said the Biden administration set an aggressive climate goal, and "the deepest fear of everybody in the climate community is that pledges are pledges and actions don't necessarily follow them." Securing the investments in the reconciliation bill would give such ambitious goals credibility, said Ladislaw. The bill still needs to pass procedural steps in the Senate, and secure the support of all 50 Democrats to have a chance at passage via budget reconciliation rules.īut closing in on the country's topline goals is "exceedingly meaningful," said Sarah Ladislaw, a managing director at RMI, a nonpartisan organization that's pushing the country to transition to cleaner energy faster. That's a significant change from the group's previous projections. on track to reducing emissions by 31-44% below 2005 levels in 2030," said communications director Maggie Young. "We find that the provisions in the IRA can put the U.S. falling far short of its climate goals, is still analyzing the text of the legislation but also shared a preliminary assessment. The Rhodium Group, which in previous projects showed the U.S. "It doesn't get us all the way there on its own, but it keeps us in the climate fight," said Jenkins. That does not quite meet President Biden's stated goal of reducing emissions by at least half at that point. ![]() With the new policies in the bill, called the "Inflation Reduction Act of 2022" (IRA), Senate Democrats ballparked that the United States could lower its greenhouse gas emissions by 40% from 2005 levels by the end of the decade. Politics Inflation and climate change tackled in new Senate deal that Biden calls 'historic' ![]()
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