Inflation Reduction Act “Biggest Step Forward” on Climate, Says Biden Amid Calls for Renewable Energy
President Biden signed the Inflation Reduction Act into law Tuesday, a sweeping $739 billion bill to address the climate crisis, reduce drug costs and establish a 15% minimum tax for large corporations. Biden has praised the IRA as one of the most significant measures in the history of the United States, though many climate groups and Indigenous land and water defenders have criticized the package for including major handouts to the fossil fuel industry and other corporate entities.