House passes, Biden signs Inflation Reduction Act
This past Friday, the House of Representatives passed the Inflation Reduction Act, which included historic climate measures. Yesterday, President Biden signed that bill into law. Based on analyses by several energy modeling groups, the Inflation Reduction Act will reduce U.S. greenhouse gas emissions by at least 40% by the year 2030, significantly narrowing the gap between the U.S.’s current path and its Paris Climate Agreement commitment. This stunning victory comes just weeks after climate advocates believed that the bill was dead and that major climate legislation in this Congress was off the table. The reconciliation roller coaster has put many CCLers on a wild ride for the last year, but volunteers faced each challenge with as much resolve as the last. During the past year that led to the climate legislation just enacted, CCL volunteers held 920 meetings with congressional offices, generated over 225,000 letters and calls to members of Congress, and published 2,117 letters to the editor and 676 op-eds. Communications Specialist Steve Valk chronicles every twist and turn of the reconciliation roller coaster in his latest blog. Read the piece to remember how CCLers like you showed up over and over to make this day possible.
In other news this week:
- Watch the celebration: If you were unable to attend CCL’s celebration of the Presidential signing on Tuesday, you can watch the recording of that celebration.
- Details about the Inflation Reduction Act: Want to know a little bit more about the nitty gritty of the Inflation Reduction Act? Read this IRA analysis by CCL Research Coordinator Dana Nuccitelli.
- The effect of dividends on carbon pricing popularity: With so much political concern over the economic impacts of inflation, it should come as no surprise that dividends help build political support for carbon pricing. Read the latest Nerd Corner post here.
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