What the anti-inflation law means for climate change, health care

What the anti-inflation law means for climate change, health care

After Sen. Joe Manchin signaled his support, the Inflation Reduction Act of 2022 is back on track in Congress. More than a short-term response to inflation, however, this law has the potential to become the boldest step the US has ever taken on climate change and will bring real benefits to Minnesotans. Provided, of course, that it survives votes and procedural problems in both houses with little or no Republican support.

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

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