How the Inflation Reduction Act would help boost climate control in US

The Inflation Reduction Act of the United States aims to boost climate control policies among other things like healthcare, economic stability and tax slabs. The legislation was passed along party lines in the US Senate and now heads to the US House of Representatives.

The Inflation Reduction Act, passed after a vote-a-rama, is being seen as a major win for Joe Biden’s administration ahead of the midterm elections.

Also Read: How climate groups reacted to Senate Democrats’ push of health, climate bill

The Inflation Reduction Act helps keep United States’ climate change milestones within reach. Biden had previously set the ambitious goal to cut down the country’s greenhouse gas emissions in the country by at least 50% by the end of the decade. Climate control experts, as cited by NBC News, say that the Inflation Reduction Act could reduce America’s emissions by about 40% below 2005 levels by 2030.

The new legislation, if passed, would also roll out new penalties for organisations that go beyond the prescribed limit of methane emissions from drilling oil and gas. According to the United Nations Environment Program, at least 30% of global warming since preindustrial times has been attributed to Methane.

Also Read: Inflation Reduction Act: A breakdown of US Senate’s vote

The Inflation Reduction Act also promotes climate justice through compensation. Out of the $740 billion provided by the bill, about $60 billion has been kept aside for environmental justice initiatives in disadvantaged communities that have been disproportionately impacted by climate change. This includes $3 billion in grants to promote clean and accessible transportation and $1 billion for clean buses, garbage trucks and other heavy-duty vehicles.

US President Joe Biden urged the House of Representaitves to pass the bill as soon as possible. Speaker Nancy Pelosi said her chamber would “move swiftly to send this bill to the president’s desk.” House votes are expected Friday. The bill would then be sent to the White House for final approval.