# United States enacts the Inflation Reduction Act with historic clean-energy investment

Date: 2022

On 16 August 2022 President Biden signed the Inflation Reduction Act, which directs roughly $369 billion toward clean energy and climate measures - tax credits for solar, wind, storage, EVs and domestic clean-tech manufacturing - the largest U.S. climate investment to date, projected to cut emissions about 40% by 2030.

## People

- Joe Biden: https://factrail.ai/people/joe-biden
- Joe Manchin: https://factrail.ai/people/joe-manchin

## Drivers

- Decarbonization and climate-mitigation policy: https://factrail.ai/drivers/env-decarbonization-policy
- Renewable capacity buildout: https://factrail.ai/drivers/energy-renewable-buildout
- Industrial-Policy Activism: https://factrail.ai/drivers/industrial-policy-activism
- Cost-of-Living Pressure: https://factrail.ai/drivers/econ-cost-of-living-pressure

## Sources

- https://www.reuters.com/world/us/biden-signs-inflation-reduction-act-into-law-2022-08-16/
- https://www.congress.gov/bill/117th-congress/house-bill/5376
- https://www.ewg.org/news-insights/news-release/2022/08/congress-sends-historic-369-billion-climate-clean-energy
- https://bidenwhitehouse.archives.gov/cleanenergy/inflation-reduction-act-guidebook/

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/energy-fact-us-inflation-reduction-act-2022