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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Biden’s Climate Act will cut US emissions by 2030 by 35-43% -EPA.

.S. President Joe Biden delivers remarks during his visit to the Cummins Power Generation Facility
U.S. President Joe Biden delivers remarks during his visit to the Cummins Power Generation Facility ... U.S. President Joe Biden delivers remarks during his visit to the Cummins Power Generation Facility in Fridley, Minnesota, U.S., April 3, 2023. REUTERS/Kevin Lamarque
.S. President Joe Biden delivers remarks during his visit to the Cummins Power Generation Facility
U.S. President Joe Biden delivers remarks during his visit to the Cummins Power Generation Facility ... U.S. President Joe Biden delivers remarks during his visit to the Cummins Power Generation Facility in Fridley, Minnesota, U.S., April 3, 2023. REUTERS/Kevin Lamarque

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Biden’s climate act to cut U.S. emissions by 2030 by 35-43% -EPA. A Wednesday government assessment found that the Inflation Reduction Act (IRA) would reduce U.S. carbon dioxide emissions by 35% to 43% by 2030 from 2005 levels.

President Joe Biden’s IRA, which takes effect in August 2022, gives electric car buyers and renewable energy producers billions in tax incentives.

The EPA research examined the effects of $391 billion in IRA assistance for climate and renewable energy initiatives and incentives through 2031.
The analysis predicted a median of 3,300 metric tons of U.S. carbon dioxide emissions in 2035, down from 6,130 MT in 2005 and 4,100 MT without the IRA, equal to closing 214 coal-fired power facilities.

The EPA “has supercharged climate action in the United States,” said John Podesta, a top White House renewable energy advisor.

It estimated 2030 energy production CO2 emissions to drop 49% to 83% from 2005 levels due to more solar and wind power.

The calculations revealed that power CO2 emissions would be half the ‘No IRA’ scenario by 2035.

The simulation does not incorporate the EPA’s July controversial proposal to reduce U.S. power plant emissions via large-scale carbon capture and green hydrogen.


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