What the Inflation Reduction Act Means for Climate Change, Health Care

Now that Senator Joe Manchin has signaled his support, the Inflation Relief Act of 2022 is once again moving through 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 it will bring real benefits to Minnesotans. Assuming, of course, that it survives a vote and procedural challenges in both chambers with little or no support from Republicans.

The title itself, the Inflation Reduction Act, is really a bit of political theater; The bill is a truly complex package of new spending and tax credits for energy and climate initiatives, combined with some health care investments funded by tax reform and drug cost savings for a net positive return estimated at more than $300 billion over the next decade .

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