President Joe Biden’s signature climate law is nearly two years old, and the tug-of-war over its future is only getting more fierce.And supporters of the law, including a growing number of businesses and communities that stand to benefit, are anxious for the administration to spend the money faster.
“I think it hasn’t been implemented fast enough,” George Bilicic, managing director at the asset management firm Lazard, said of the IRA, though he acknowledged the difficulty in rolling out major legislation that requires new regulations guiding its deployment. Republicans in the House “are seeing the investments that are happening because of these tax credits and the benefits,” said Rep.“I think a lot of should stay,” he said, noting that “you’re seeing a lot of companies spend a lot of money in red states” to get the tax credits for projects such as electric vehicle manufacturing, new nuclear power plants and clean energy research and development.
Besides his fossil fuel policies, the group criticized Biden’s support for Israel’s military during its war in Gaza and his recent moves to limit asylum seekers at the U.S. border. “The polls miss the intensity — the generational intensity — among younger people in our country,” Markey said. “Ultimately we’re fighting for the same climate agenda. That’s where there is agreement.”A reversal of Biden’s policies “actually puts us on a U-turn trajectory. A U-turn to less competitive economy. A U-turn to unsafe communities, a U-turn on jobs,” Zaidi said. “That’s a really big deal. It’s very problematic.”Both Granholm and U.S.