Updated Energy Policy Simulator modeling finds the Inflation Reduction Act is the most significant climate legislation in U.S. history. The climate and clean energy provisions could cut greenhouse gas emissions 37 to 43 percent below 2005 levels, prevent up to 4,500 premature deaths from air pollution in 2030, and create up to 1.3 million jobs in 2030. Further, for every ton of emissions generated by IRA oil and gas provisions, at least 28 tons of emissions are avoided by the other provisions.
This updated research note models final IRA provisions and improves on the previous note’s methodologies and assumptions.