What does the law on reducing inflation mean for climate change, healthcare

What does the law on reducing inflation mean for climate change, healthcare

Now that Senator Joe Manchin has signaled his support, the Inflation Reduction Act of 2022 is back on track in Congress. More than a short-term response to inflation, however, this bill has the potential to become the boldest move the US has ever made against climate change and will bring real benefits to Minnesotans. Assuming, of course, that he survives the votes and procedural challenges in both chambers with little or no support from the Republicans.

The very title of “Inflation Reduction Act” is really a bit of political theater; The bill is indeed a complex package of new spending and tax credits for energy and climate initiatives, combined with some healthcare investments, funded by tax reforms and drug cost savings for an estimated net positive return of over $ 300 billion in the next decade.

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