Tue Sep 10 17:07:36 UTC 2024: ## Climate Policy Absent From US Election, Yet IRA’s Legacy Looms Large

Despite the Inflation Reduction Act (IRA) being the largest climate legislation in US history, climate policy has been curiously absent from the 2024 presidential campaign. While Vice President Kamala Harris seems to avoid mentioning the law, former President Donald Trump vaguely talks about cutting its spending.

Foreign Policy columnist Adam Tooze, in a recent podcast episode with Cameron Abadi, discusses the IRA’s impact on US climate policy and the political landscape. Tooze argues that the law’s absence from the campaign reflects the lack of consensus on climate policy in the US. While both Democrats and Republicans prioritize keeping energy costs low, a fragile coalition has emerged around subsidizing green energy, as long as it creates jobs and avoids reliance on China.

The IRA’s impact on the Republican Party remains uncertain. While some Republicans recognize the economic benefits of green energy projects funded by the IRA, others, like those in Texas, actively work against renewable energy development. Meanwhile, even conservative lobby groups like the American Petroleum Institute and the Chamber of Commerce support retaining the IRA for its broader benefits, including subsidies for hydrogen and carbon capture technologies.

Despite the IRA’s compromises and shortcomings in achieving its climate goals, leftist climate activists in the US largely supported it. This is attributed to a sense of relief after the Biden administration’s success in passing climate legislation, the inclusive process that included climate activists in drafting the law, and a belief in America’s exceptionalism and ability to lead on climate change.

Tooze argues that the IRA’s success is rooted in a combination of political pragmatism, inclusive policymaking, and a belief in America’s ability to overcome challenges. While the IRA’s long-term impact remains to be seen, it has undoubtedly shifted the landscape of US climate policy and will continue to be a focal point in the years to come.

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