What’s in the Inflation Reduction Act for climate?

The Inflation Reduction Act (IRA), signed into U.S. law by President Joe Biden on August 16th, might be the biggest climate investment in history, but it does not look much like the kinds of policies that have been most championed by climate activists and economists. There is no carbon tax, no cap and trade program, no specific emissions targets. Instead, the law combines a slew of incentives like rebates and tax credits aimed to encourage significant growth of the clean energy and electric v...