Just as the bill’s cost has increased from its original projection of $271 billion over 10 years in 2021, its expected environmental benefits have decreased. The R Street Institute estimates that the IRA will reduce greenhouse gas emissions by 1.8 billion metric tons compared to the original estimate of 3.1 billion metric tons. The bill’s carbon dioxide (CO2) abatement costs have also risen from $336 per metric ton of CO2 at its passage to $600 per metric ton of CO2, according to R Street.
Trump’s energy bill retains most Biden subsidies but costs rise
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