Biden Signs Major Climate Action Bill

Washington, DC —(Map)

Last Tuesday, US President Joe Biden signed into law the biggest step the US has ever taken to fight climate change.  The law provides hundreds of billions of dollars to help the US cut pollution and create more clean energy.

The bill is called the Inflation Reduction Act. Inflation is when prices begin to go up quickly. That’s been a big problem in recent months. But in spite of the name, the bill is not really expected to reduce inflation.

Instead, the law includes the largest amount of money the US has ever put toward fighting climate change. The law will help cut about 40% of the country’s greenhouse gas emissions.

The bill sets up a system of tax breaks to encourage people to buy electric cars and other “green” products, to use more clean energy, and to improve buildings so they don’t waste energy. “This bill is the biggest step forward on climate ever,” Mr. Biden said.

The bill, worth $740 billion in all, includes about $370 billion for clean energy projects. That includes money to help American companies get better at making equipment for solar and wind energy. It also encourages businesses and factories to pollute less by giving them tax breaks when they do.

Some parts of the bill are designed to make life easier for people. For example, the bill will lower the cost of drugs for people on Medicare. The law will also provide extra help to poor areas and areas most affected by climate change.

To help pay for the costs of the new projects, the bill also includes a new tax on companies that make more than $1 billion in profit every year.

Mr. Biden had hoped to cut US greenhouse gas emissions in half by 2030. Though the bill is only expected to cut emissions by 40%, Mr. Biden is also planning to use his powers as president to cut emissions even more.

Mr. Biden had hoped to cut US greenhouse gas emissions in half by 2030. Though the bill is only expected to cut emissions by 40%, Mr. Biden is also planning to use his powers as president to cut emissions even more. Above, a sign promoting the new bill in New York.

Gina McCarthy, who advises the White House on climate, called the bill “a starting point”. It also marks far more progress in the battle against climate change than many people expected.

Mr. Biden and Democrats in Congress  have been trying since last year to pass a bill that takes action on the climate crisis. But they had been stopped by Democratic Senator Joe Manchin.

Mr. Manchin is from the coal-mining state of West Virginia, and has opposed actions that might hurt fossil fuel businesses. But without Mr. Manchin’s support, the Democrats didn’t have enough votes to pass a climate bill. The bill was strongly supported by Democrats, but strongly opposed by Republicans.

Democrats in Congress have been trying since last year to pass a climate bill, but they were stopped by Democratic Senator Joe Manchin. In July, a deal was reached that allowed the bill to be passed. Above, Mr. Manchin speaks to reporters after the bill was signed.

But in July, Senate Democrats reached a deal with Mr. Manchin that allowed the bill to be passed. Oddly, that required them to add some support for fossil fuel efforts to the climate bill.

Democrats are planning to hold events around the country to promote the bill. The White House is planning to celebrate the bill’s signing on September 6.

Democrats hope the bill will help them in the November elections, which could change which political party  controls the US House of Representatives and the US Senate.