ExxonKnews
August 12, 2022
The U.S. House is expected to pass the Inflation Reduction Act later today, which will mark the first time ever that both chambers of Congress have approved legislation to begin addressing the climate crisis.
In reality, the IRA “is more of an energy bill than a climate bill.” It relies on a series of significant domestic investments and tax rebates meant to speed the transition to clean energy through market forces. But the bill also formalizes a toxic trade-off, allowing corporations to continue offloading the consequences of fossil fuel extraction and pollution onto communities, and it fails to end our country’s addiction to oil and gas.
