What the Inflation Reduction Act has achieved in its first year
Big investments in green energy and health care have gone unnoticed by most Americans
PRESIDENT JOE BIDEN has conceded that the name was a mistake: the success of the Inflation Reduction Act (IRA), his flagship legislation, should not be measured by its effect on inflation. These days the IRA is most often associated with decarbonisation—that is, by the few Americans who know about it. Mr Biden hopes to be re-elected next year, and this week he and his administration marked the anniversary of the IRA’s passage by touring the country to tout the benefits it has brought. What impact has the law actually had?
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