I took this photo in Colorado last week only minutes after the Senate passed the Inflation Reduction Act on a 50-50 vote, with VP Harris's vote being the tie breaker. After 30 years of inaction on climate, and having come so close last year to passing the BBB only to have it tragically collapse in the Senate, this surprise bill that no one saw coming will be signed into law this week. Every one of the 270 democrats and not a single republican voted for it.
The bill will create a whole new industry, with US manufacturing leading the world. It will create the demand, the manufacturing, and the workforce. It will NOT raise gas prices.
It will create the demand by subsidizing clean energy for both electric companies and for consumers - THE GOVERNMENT IS GOING TO PAY YOU TO GO GREEN! Including a $8,000 rebate to replace your gas furnace and old A/C with a modern Heat Pump. And there will be a $7,500 tax credit (applies at time of sale) for an EV purchase. Also: induction stoves, water heaters, home upgrades, etc.
The rebates and tax credits will only apply to products manufactured in the US. And the companies must be high-wage and have apprentice programs, and in some cases be unionized.
The bill isn't perfect and leaves out the Climate Corps, electric bicycles, and a lot of environmental justice concerns, but excuse me for being UNAPOLOGETICALLY EXCITED about it! For the first time since I learned about climate change, I can say that there is hope that we will avoid catastrophe. Projections are showing that this bill will reduce our emissions 40% by 2030 and will be the start of much more to come. The rest of the world will look to the US as a leader in fighting climate change.