It’s Far From Perfect, But the Inflation Reduction Act is a Big Effing Deal
Two weeks ago, the world suffered another climate change legislative let down when West Virginia Sen. Joe Manchin cited “historically high inflation” as his reason for opposing climate proposals for renewable energy and electric vehicles in the Clean Electricity Performance Program, a major initiative of the long sought-after Build Back Better reconciliation bill.
Calls then mounted for President Biden to declare a climate emergency that would allow the White House to bypass Congress to ban fossil fuel exports, ban new federal fossil fuel leasing on public land and waterways, and access further authority under the Defense Production Act (DPA) to kick-start clean energy development.
While Biden did not do that, there is cause for optimism now that Sen. Manchin seems to have had a change of heart.
It was announced Wednesday that Sen. Manchin has struck a deal with Sen. Majority Leader Chuck Schumer on what is now called the Inflation Reduction Act, which, according a White House press release, seeks to:
“Make prescription drugs cheaper by allowing Medicare to negotiate lower prices and we can lower health insurance costs for 13 million Americans, by an average of $800 a year, for families covered under the Affordable Care Act.
