U.S. Senate Passes the Inflation Reduction Act, Advancing Historic Climate Legislation to the House of Representatives

The U.S. Senate passed the Inflation Reduction Act, which includes unprecedented investments to tackle climate change, cut consumer costs, strengthen energy security and create good-paying jobs in the United States. The House of Representatives will consider the legislation on August 12, where it is expected to pass,  before it goes to President Joe Biden to sign into law. Once signed, the Inflation Reduction Act will become the most significant piece of climate legislation enacted in U.S. history.

Following is a statement from Ani Dasgupta, President & CEO, World Resources Institute:

“The Inflation Reduction Act is a victory for all Americans and shows the world that the United States is still an ally in the global fight against climate change.

“The transformational legislation provides breakthrough investments and tax credits that will save households money, create millions of jobs and boost energy security – all while helping put the U.S. within striking distance of its 2030 climate goals.

“Every corner of the country will benefit from this legislation, from farmers planting drought-resistant crops in America’s breadbasket, to new clean manufacturing jobs in the Rustbelt, to clean energy technology production in the South and West.

“Major companies have rallied behind the Inflation Reduction Act because they see how it will create business opportunities and keep America competitive in the rapidly growing clean energy economy.

“This legislation isn’t a panacea for climate change – and no bill ever will be. U.S. states, cities and the private sector all need to step up their efforts for the U.S. to fulfill its climate targets and prove to the world that America stands by its word.

“The U.S. Senate deserves high marks for pushing through strong headwinds to get this bold, decade-defining legislation over the finish line. Now the U.S. House of Representatives needs to show their resolve and quickly pass the historic bill to ensure Americans have a safer, more equitable and prosperous future.”