Shift Key with Robinson Meyer and Jesse Jenkins How 2025 Could Reshape Climate Policy — No Matter Who Wins the Election
Aug 28, 2024
Josh Freed, a key figure in climate politics, discusses the pivotal year of 2025 for U.S. climate policy. He explores how the outcome of the 2024 elections could reshape the Inflation Reduction Act and tax legislation, highlighting potential scenarios with Trump or Harris in power. The conversation covers the implications for EV production and consumer tax credits, the evolving political dynamics, and the challenge of integrating climate action with economic competitiveness. Freed emphasizes the urgent need for strategic planning in a polarized landscape.
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Potential Trump Administration Climate Policy
- Donald Trump could potentially impede climate progress by not implementing the Inflation Reduction Act (IRA) and disrupting global trade.
- His potential actions include imposing tariffs and withdrawing from international agreements, causing economic and geopolitical chaos.
Politics and IRA Repeal
- Despite potential setbacks under a Trump administration, political processes will continue, influencing climate policy outcomes.
- Internal Republican politics and local economic dependence on clean energy technologies could moderate full IRA repeal.
Tax Cuts and IRA Tax Credits
- Expiration of Trump tax cuts in 2025 will force negotiations, endangering certain IRA tax credits.
- Tax credits benefiting individuals, like EV and home efficiency credits, are most at risk to offset extending tax cuts for the wealthy.