White House Officials and Democratic Lawmakers Celebrate Anniversary of Inflation Reduction Act, but its Impact and Public Perception Remain Uncertain
Washington, D.C. – White House officials and Democratic lawmakers have been celebrating the one-year anniversary of the Inflation Reduction Act, a legislative package that has been hailed as the most ambitious climate legislation of all time. However, despite the fanfare, the law’s practical benefits and public perception have been less than stellar. Recent polls show that the public knows very little about the law, and President Biden has received low marks on climate issues, despite repeatedly calling it an existential threat.
There are several possible explanations for the muted public reaction to the Inflation Reduction Act. First, the law’s clunky name does not create a sense of bold action. Additionally, the mixed messages sent by the administration have undermined any sense of urgency. The law’s focus on tax credits for businesses and households also means that its impact may be more noticeable to those directly benefiting from it, while others may see little change.
Meanwhile, climate activists, especially young ones, remain frustrated with the Biden administration’s record on climate policy. Critics argue that the approval of major new fossil fuel projects, such as the massive Willow oil drilling scheme in Alaska, undermines the potential emissions reductions from clean energy sources.
One of the key components of the Inflation Reduction Act is the use of carbon capture technologies to Reduce Emissions from power plants and industrial facilities. While this may sound promising, carbon capture has proven to be a massive failure. The vision of equipping coal and gas power plants with capture technology has largely disappeared after years of wasted time and billions of dollars. The few existing projects that use captured carbon to extract more oil hardly qualify as a climate solution.
Notably, polluting industries have been relatively happy with the Inflation Reduction Act, as it allows them to continue their business as usual while reaping the benefits of tax credits. However, there is a lack of transparency and accountability regarding these tax credits, with little public information available about their recipients and the effectiveness of carbon waste storage.
The Biden administration’s reliance on carbon capture extends beyond the Inflation Reduction Act. The Environmental Protection Agency has proposed draft power plant rules that would require capture technology at many coal and gas facilities. However, major utility companies are now voicing concerns about the feasibility of this technology.
If the Biden administration wants to demonstrate its commitment to addressing the climate crisis and attract young voters, it must go beyond market mechanisms and failed technological fixes. The public perception and impact of the Inflation Reduction Act remain uncertain, and more needs to be done to make meaningful progress on climate issues.
Wenonah Hauter, founder and executive director of the national advocacy group Food & Water Watch, emphasizes the need for the administration to follow through on its promises and take bold action to protect a livable future.
For more information, please visit:
– Inflation Reduction Act: https://www.congress.gov/bill/117th-congress/house-bill/5376/text
– President Biden on climate as an existential threat: https://weather.com/news/climate/video/president-biden-says-climate-is-existential-threat-to-humanity
– Recent polls on the public’s knowledge of the Inflation Reduction Act: https://www.washingtonpost.com/climate-environment/2023/08/07/biden-white-house-climate-policy/
– Extreme weather events as a reminder of the climate crisis: https://apnews.com/article/heat-wave-extremes-climate-change-f652668232cc2ec7400f7e65cfb75cb9
– Approval of the Willow oil drilling scheme in Alaska: https://apnews.com/article/biden-climate-change-willow-alaska-oil-drilling-cef43cf85cfbc92eb9bb2bf09e488db8
– Concerns about the feasibility of carbon capture technology: https://www.eenews.net/articles/utilities-say-epa-power-plant-rule-isnt-ready/
Original Story at thehill.com – 2023-09-01 17:30:00
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