Climate Law's Controversial Impact
This is a news story, published by Inside Climate News, that relates primarily to the Treasury Department news.
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polluting fossil fuel projectsInside Climate News
•Biden’s signature climate change law could prove difficult to roll back
75% Informative
The Inflation Reduction Act, or IRA, was the nation’s largest single investment in reducing climate-warming pollution.
The money is flowing throughout the country, with most of it being spent in conservative-leaning states.
The tax credits, for example, require guidance issued by the Treasury Department to help define which projects are eligible.
A second Trump administration could use executive authority to constrain or reshape spending in ways that would undermine the law's goals.
The Greenhouse Gas Reduction Fund is a $27 billion “green bank” program.
Most of that money was awarded in August to nonprofits, which will now be able to lend the funds directly to emissions-cutting projects.
Some programs are intended to benefit communities that have limited access to financing for things like rooftop solar or energy-efficiency retrofits.
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78
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82
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47
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