Brief #148 – Environment Policy
By Jacob Morton
On August 16, 2022, President Joe Biden signed into law the Inflation Reduction Act, H.R. 5376. The new law is a scaled-back version of the Biden administration’s Build Back Better Act, intended to reduce the national deficit and lower inflation while investing in domestic energy production, creating jobs, and lowering healthcare drug costs. Here is a look at how the new law impacts U.S. environmental and climate policy.