The Inflation Reduction Act; new major legislation
From the perspective of sustainability and planetary health, the Inflation Reduction Act Includes $369 billion on climate change. There are some very hard to swallow gifts to the fossil fuel industry, but it is still the first major climate bill in decades.
Action: Most environmental and climate groups support it, while holding their noses over the gifts to fossil fuel corporate interests, and are asking their members to contact their representatives to vote for it, understanding that this is the best possible compromise at this time.
It has passed the Senate and the house (the latter 8/12/22) and was signed into law by President Biden on 8/16/22.
Here is a summary of the climate aspects of the bill from Yale Climate Connections:
One of the major benefits of this bill is that it classifies CO2 as a pollutant. This gives more power to regulatory agencies, which may take the teeth out of the recent Supreme Court decision on the ability of the EPA to regulate CO2 to control climate change.
Here is a bit more detailed summary: https://bipartisanpolicy.org/blog/inflation-reduction-act-summary-energy-climate-provisions/