Tuesday, August 16, 2022

Discussing the inflation reduction act's climate provisions

 So, we were promised a mini green new deal by Biden as we showed in the previous article, but instead we got...the inflation reduction act. it was a compromise, of a compromise, of a compromise, because Manchin and Sinema don't like people to have nice things. You can find a PDF discussing the provisions here, and I'll be reading off of it. Unlike the above, since I dont wanna sit here all night going over every detail when I'm just like mmhmm, I'm just gonna focus on the summary and then discuss specifics if needed.

Both high energy costs, and the growing impacts of climate change, pose a significant
burden to every American. The historic investments included in the Inflation Reduction
Act of 2022 will bring down consumer energy costs, increase American energy security,
while substantially reducing greenhouse gas emissions.

The combined investments in the FY2022 Budget Reconciliation bill would
put the U.S. on a path to roughly 40% emissions reduction by 2030, and would
represent the single biggest climate investment in U.S. history, by far.

40% is pretty significant. I know it's not as good as other plans, but it's something. A pretty significant claim.

1.
Lowers energy costs for Americans through policies that will lower prices at
the pump and on electricity bills, help consumers afford technologies that will
lower emissions and energy prices, and reduce costs that would otherwise be
passed on to them.

This mostly involves tax credits that encourage people to buy improvements to their homes that save on energy costs. Also, electric vehicles.

2.
Increases American energy security through policies to support energy
reliability and cleaner production coupled with historic investments in
American clean energy manufacturing to lessen our reliance on China, ensuring
that the transition to a clean economy creates millions of American
manufacturing jobs, and is powered by American-made clean technologies

And this is tax credits aimed at businesses to encourage manufacturing energy efficient technology like solar panels, batteries, wind turbines, electic vehicles, etc. 

3. Invests in
decarbonizing all sectors of the economy through targeted federal
support of innovative climate solutions.

More tax credits aimed at miscellaneous things. Also a methane reductions program.

4.
Focuses investments into disadvantaged communities to ensure that
communities that are too-often left behind will share in the benefits of the
transition to a clean economy.

Random block grants for various projects associated with social justice, blah blah blah. Also some programs for investing clean energy projects at ports, clean heavy duty vehicles like buses and garbage trucks, and more focus on tax credits from previous sections.

5. Supports
resilient rural communities by investing in farmers and forestland
owners to be part of growing climate solutions, and by ensuring rural and
communities are able to better adapt to a rapidly changing climate.

More tax credits and grants aimed at farmers to improve agricultural practices, encourage production of biofuels, and encourage various conservation efforts.

And that's it. 

So...opinion? While the original Biden climate proposal wasn't that bad, it was actually a pretty well rounded serviceable proposal, this kinda reads like the bare freaking minimum. it's just a bunch of tax credits to encourage people to invest in their homes, encourage development and production of new green technologies, and various other things. 

I don't know if it will actually reduce green house gases by 40% in 8 years. Seems optimistic, but if so, man we should've invested in this stuff years ago. 

But honestly? Yeah, this plan is weak.

I know it's the best Biden could do given the hostile legislative environment he has to work with (screw you Manchin and Sinema), but yeah. Compared to build back better's original form, this is the bare minimum.

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