Economist Podcasts Greenlighted: American climate legislation
Aug 8, 2022
Idris Kaloun, Washington bureau chief for The Economist, breaks down the groundbreaking climate legislation recently passed in the U.S. Senate, discussing its implications for inflation and job creation. Richard O'Callo, co-founder of Sango Capital, reveals Africa's startup boom and the region's growing venture capital landscape. They also touch on how understanding the menstrual cycle can enhance athletic performance, highlighting the importance of women's sports science and the unique challenges female athletes face.
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Inflation Reduction Act
- The Inflation Reduction Act is a slimmer version of Biden's Build Back Better plan, focusing on climate change and healthcare.
- It extends Affordable Care Act subsidies, allows Medicare drug price negotiation, and sets a $2,000 out-of-pocket cap for seniors.
Climate Change Mitigation
- The Inflation Reduction Act invests heavily in clean energy through tax incentives for solar, wind, electric vehicles, and efficient products.
- It aims to cut carbon emissions by 40% relative to 2005 levels by 2030, bringing the US closer to Biden's 50% goal.
Inflation Impact
- Despite its name, the Inflation Reduction Act won't significantly reduce inflation, according to the Congressional Budget Office.
- The Federal Reserve will likely do the heavy lifting on addressing inflation.