US Senate Democrats’ climate bill – if it becomes law – would spur adoption of clean technologies but omits federal permitting reforms and a tax credit for transmission critical to overcoming development and delivery hurdles across much of the country.
The 725-page Inflation Reduction Act of 2022 is the costliest and most ambitious package ever by the US to address climate change. The $443bn measure includes $64bn in health care spending.
Majority Leader Charles Schumer negotiated the bill’s language with maverick Senator Joe Manchin of West Virginia whose opposition last year killed two much larger pieces of climate legislation.
