Two Years And $300 Billion Into Biden’s Climate Plan, Emissions Are Higher
August 16 marked the two-year anniversary of the Inflation Reduction Act (IRA), legislation that has funneled hundreds of billions of dollars into green energy and electric vehicles. While the Act made unprecedented investments in renewable energy, it also faced criticism for being too little, too late and for compromising on fossil fuel extraction. In response, Environmental Protection Agency Administrator Michael Regan acknowledged the bill’s shortcomings but explained the administration’s approach: “We’re using every tool in our toolbox to drive down climate pollution as much as possible, as quickly as possible.”