If passed, the Inflation Reduction Act’s $369 billion energy and climate provisions could put the U.S. on a path to cut climate pollution 31% to 44% below 2005 levels in 2030. Not everything is swell, though. The compromise includes a number of fossil fuel giveaways – such as requiring new lease sales for drilling on public lands and offshore, and money for fossil-fueled power plants to do carbon capture and sequestration – and creates requirements for domestic critical minerals production while leaving out funding for public transit or the job-creating Civilian Conservation Corps.
Some climate advocates reacted with surprise and delight while other advocates argue the bill is riddled with poison pills that will take the U.S. in the wrong direction. (Explainers: USA Today, CNN, ABC News, The Cut, Gizmodo, New York Times $, Wall Street Journal $, Canary Media, CNBC, Vox, Axios Reactions: CNBC, The Hill, Yahoo, NPR, The Guardian, Wall Street Journal $, NPR, Utility Dive)