Climate bill passes

[Rogar]

Or at least has support to pass. Among discouraging or mundane political news, this was rather exciting to me. Apparently Manchin finally caved when some of his inflation concerns were eased by off-setting proposed tax hikes for the wealthy, the details of which I've not seen. And a pet project for his state was included. The NYT called it the most ambitious climate package ever undertaken by the United States. Estimated cost was $379 billion. Certain to be criticized by some, but it seems like a reasonable effort and not just fluff.

https://www.nytimes.com/2022/07/28/c...l-manchin.html

[LDAHL]

It’s part of the stripped down build back better bill. They include a 15% minimum corporate tax, and so call it the “Inflation Reduction Act”. Considering the possibility that corporations raise prices in response to new expenses, that strikes me as a bit comical.

[Rogar]

Yes, but think of all the new green jobs it will create in the post recessionary period.

And all the benefits to the environment and the future climate of coming generations... if that should matter?

[JaneV2.0]

I'll celebrate when it passes.

[ApatheticNoMore]

I haven't decided if it's net good or bad on the climate part. It's certainly not all good from a climate perspective. The deal with Manchin was on easing permits for fossil fuel infrastructure development I believe. It definitely includes expansion of offshore and onshore drilling.

Apparently Manchin finally caved when some of his inflation concerns were eased by off-setting proposed tax hikes for the wealthy, the details of which I've not seen

maybe that, but also permitting reform for fossil fuel projects which should make it quicker to go ahead with them, or so I've read.