Inflation Reduction Act 2022: 5 ways the bill will fight climate change

Inflation Reduction Act 2022: 5 ways the bill will fight climate change

Senate Democrats have passed a sweeping bill called the Inflation Reduction Act.

This will allot hundreds of billions of dollars to fight climate change.

The bill would devote $369 billion over 10 years to electric vehicles and clean energy tax breaks. 

It would keep climate goals within reach and reduce emissions by about 40% below 2005 levels by 2030.

The bill aims to curb methane emissions and penalize fossil fuel companies for excess emissions from drilling oil and gas.

The climate bill earmarks $60 billion for environmental justice initiatives in disadvantaged communities.

This will include $3 billion in grants to promote clean and accessible transportation and $1  billion for clean vehicles. 

Overall, this bill will send an important message to international partners and encourage them to follow.