Senate Democrats have reached an agreement on the Inflation Reduction Act, a major part of President Joe Biden’s agenda that would help reduce the economy’s carbon emissions and deal with the climate change crisis.
Sen. Kyrsten Sinema, an Arizona Democrat, was last to sign on to the act after some compromise.
That gave the Democrats the 50 senators needed to pass the bill along with Vice President Kamala Harris' tie-breaking vote.
So what’s in the Inflation Reduction Act, and how could it help consumers?
Colin Leyden is the Texas Political Director of the Environmental Defense Action Fund.
Red, rural and green
It doesn’t look like the passage of the Inflation Reduction Act will get any help from Republican lawmakers. The GOP is firmly against greening the economy, and it is moving toward solar and wind while moving away from fossil fuel.
But looking at where the dollars will be going and where the new jobs will be generated, it looks like Republican stronghold congressional districts will benefit the most from the Inflation Reduction Act.
That’s according to Enersection, a new company based in Houston specializing in data-driven insights on the U.S. energy system.
Jeff Davies is the co-founder of Enersection.
Climate change insurance
Due to man-made climate change, disaster after disaster is pounding the nation. Wildfires, hurricanes, floods and drought — they are taking lives and wrecking landscapes, communities, homes and businesses.
This means insurance companies are having to write a lot of big checks.
And as we enter the busiest part of hurricane season, things could get even worse.
Leading global scientist Alex Kolkersays there is a serious threat to coastal cities both physically and fiscally.
Kolker is a professor at the Louisiana Universities Marine Consortium.
