President Biden signs Inflation Reduction Act to limit climate change

President Joe Biden has signed the Inflation Reduction Act of 2022. The sweeping $750 billion legislation includes $369 billion in investments toward climate and clean energy programs. Following months of infighting, House and Senate Democrats passed the bill along party lines last week after Senate Majority Leader Chuck Schumer and Senator Joe Manchin of West Virginia struck a compromise deal on Biden's Build Better Back framework. According to one estimate by Princeton University’s Zero Lab, the bill could reduce US greenhouse emissions by about 6.3 billion tons through 2032. The $369 billion set aside by the bill represents the most significant investment to combat climate change in US history.