Biden's clean energy tax credits likely to remain 'law of the land': Brainard

Pallade Veneta - Biden's clean energy tax credits likely to remain 'law of the land': Brainard

NATURE 10.05.2024

Biden's clean energy tax credits likely to remain 'law of the land': Brainard / Photo: SAUL LOEB - AFP/File

Most of Joe Biden's clean energy tax credits are now law and are unlikely to be reversed by Donald Trump if he wins November's presidential election, a senior administration official said Friday.

Change text size:

The 2022 Inflation Reduction Act (IRA) -- one of Biden's most significant policy achievements as president -- contains tax credits, subsidies and grants worth hundreds of billions of dollars designed to turbo-charge America's energy transition.

The legislation has been opposed by some Republicans, including Trump, who is reportedly looking at ways to gut Biden's signature law if he wins in November.

But speaking in Washington on Friday, White House national economic advisor Lael Brainard said that even if Trump succeeds in replacing Biden as president, he will struggle to reverse some of the most crucial elements of the IRA.

"The Inflation Reduction Act clean energy tax credits are the law of the land," she said in an event streamed online. "And under any scenario I would expect the law to be implemented faithfully."

Brainard said 100,000 Americans had already taken advantage of Biden's electric vehicle tax credit, adding that 21 of the 24 credits were now operative, with the rest due to kick in next year.

"These rules are complex, they take a very long time to write, and they take a very long time to amend," she said.

"And I will say the investor community, the business community, the labor community, they are going to strongly advocate for these projects," she continued.

"And although many of the Republican members opposed the Inflation Reduction Act, they are now loudly cheering on the investments that are in their districts," she added.

E.Magrini--PV

US Buildings Threatened by Wildfires Could Triple by 2060

A new study published in Nature Communications projects that the number of buildings across the contiguous United States threatened by wildfires could almost triple by 2060. Researchers attribute this escalating risk to a combination of climate change, forest mismanagement, and continued development in fire-prone areas, warning that socioeconomically vulnerable communities face disproportionate dangers.

Researchers Warn 'Bookkeeping Trick' Masks Beef Industry's Methane Emissions

Two new analyses warn that a specialized accounting method known as GWP* enables major beef-producing countries to significantly understate their methane emissions. Researchers from Greenpeace and the University of California, Los Angeles, argue that this metric creates a misleading picture of climate progress, allowing nations to claim neutrality while actual warming continues.

Climate Change Intensified Atlantic Hurricanes, Study Finds

Human-caused climate change significantly intensified Atlantic hurricanes over the past five years, according to a new analysis by Climate Central. The study found that elevated sea surface temperatures increased maximum wind speeds for most storms between 2019 and 2023, as well as every recorded storm in the 2024 season.

UAE oil spill raises questions for desalination operations

An oil spill off the United Arab Emirates that has prompted temporary restrictions on fishing and on access to several beaches has raised concerns over the risk of environmental contamination and the potential impact on desalination plants. The spill is from a vessel that shipping sources have identified as crude oil tanker Gem No.