IRA: big step toward US climate goal

The „Inflation Reduction Act“ is decisive in achieving the USA’s climate goals. With about 370 billion dollars in grants and tax breaks, US President Joe Biden wants to promote new and green industries, infrastructure construction and greater energy efficiency. The details are now emerging.

The US government calls the law the „largest investment in energy and climate in American history„. For the Economist magazine, it is an „epoch-making political gamble“ for the US and the „most ambitious and dirigiste industrial policy for many decades“, Together with the „Infrastructure Bill“ (1.2 trillion dollars investment in roads, bridges and airports) and the „Chips Act“ (280 billion), the IRA is intended to modernize the US economy.

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