Energy Costs Would Rise Without Tax-and-Climate Law, Report Says - Bloomberg Tax
Energy Costs Would Rise Without Tax-and-Climate Law, Report Says
Repealing the Democrats’ 2022 tax-and-climate law would raise household energy costs and carbon emissions even while it would reduce government spending, a new report finds.
The Brookings Institution’s Hamilton Project report comes as both parties mull the potential impacts of the coming election, with Republicans ramping up attacks on the law and Democrats facing further implementation and rulemaking around the law’s provisions.
The Brookings report analyzed seven potential scenarios that Congress and the White House might consider after the November presidential election—including leaving the law as is, repealing it, or tweaking it and adding a carbon ...
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Related Knowledge Center: Climate legislation
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.