Opinion | Four Reasons Democrats' Inflation Reduction Act Doesn't Live Up to the Hype

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Opinion | Four Reasons Democrats' Inflation Reduction Act Doesn't Live Up to the Hype
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'Yes, the legislation marks a small step forward. It is better than not having it. But Biden certainly shouldn't have handed his signing pen to Sen. Manchin as a mark of honor.'

used to support it actually asserts that the legislation will reduce emissions by around 15% of 2005 emissions, with the remaining 27% reduction as of 2030 predicted to occur based on pre-existing trends, even without the new legislation.

Put more simply, the actual reduction of emissions under the new law is likely to fall short of the widely advertised 40% relative to 2005. What the US truly needs is a decarbonization plan involving public land use, the national transmission grid, limits on new deployments of fossil-fuel infrastructure and more—not simply a set of tax incentives, as provided in the new law. The new legislation includes no energy plan, and the Supreme Court the authority of the Environmental Protection Agency to put forward any such plan.

In short, despite some steps for a safer climate—almost all revolving around tax credits for clean energy—we are almost surely stuck with an inadequate pace of decarbonizing the energy system. Global warming is likely to hit very dangerous levels, and US efforts to cajole other countries to decarbonize faster will be stymied by insufficient action at home.

Yes, the legislation marks a small step forward. It is better than not having it. But Biden certainly shouldn't have It was Manchin, with Sinema and probably Democratic Party conservatives behind the scenes, who scuttled the country's once-in-a-generation chance for the progressive change we need to achieve a prosperous, fair and sustainable society.

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