The Intelligence from The Economist Greenlighted: American climate legislation
Aug 8, 2022
Idris Kaloun, Washington bureau chief for The Economist, provides insights on the groundbreaking Inflation Reduction Act, marking a significant win for climate action in the U.S. Richard O'Callo, co-founder of Sango Capital, discusses the exciting surge of startups in Africa and the evolving venture capital landscape on the continent. They also touch on the intriguing research about the menstrual cycle's influence on female athletes, highlighting the importance of understanding these factors for improved training and performance.
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Inflation Reduction Act Details
- The Inflation Reduction Act is a slimmed-down version of Biden's Build Back Better plan, focusing on climate, healthcare, and taxes.
- It extends Affordable Care Act subsidies, allows Medicare drug price negotiation, and sets a $2,000 out-of-pocket cap for Medicare drug costs.
Climate Change Provisions
- The bill aims to cut carbon emissions by 40% by 2030 through clean energy tax incentives and consumer rebates for electric vehicles and efficient appliances.
- It also involves separate legislation to ease permitting for fossil fuel pipelines.
Inflation Impact
- Despite its name, the Inflation Reduction Act is not expected to significantly reduce inflation.
- Independent analyses suggest a marginal effect on inflation; the Federal Reserve will likely do the heavy lifting.