1 A B C E G I J M N P R S T U

IRA

The Inflation Reduction Act, or IRA for short, is the largest piece of climate legislation in US national history.
February 9, 2024

The Inflation Reduction Act, or IRA for short, is the largest piece of climate legislation in US national history. It started out as the Build Back Better Act, but in order to gain the vote of West Virginia Senator Joe Manchin many of the provisions had to be removed. It was eventually passed in August 2022 after having about 3/4ths of the spending provisions removed.

Despite it being greatly reduced before it was passed into law, the IRA still included $783 billion in funding for climate change related initiatives. Wikipedia provides the following breakdown:

$220–372 billion in energy, $67–183 billion in manufacturing, $28–48 billion in building retrofits and energy efficiency, $33–436 billion in transportation, $22–26 billion in environmental justice, land use, air pollution reduction and/or resilience, and $3–21 billion in agriculture.

Previous Story

Exxon

Next Story

Amazon