The Inflation Reduction Act invests in green infrastructure, benefiting Texas
Newsweek — March 1, 2024, 12:00 PM UTC
Summary: The Inflation Reduction Act (IRA) provides $500 billion in investment for infrastructure necessary for a transition to a green economy. Texas benefits the most, receiving $131 billion by 2030. Repealing the act would see states like Texas lose out economically to foreign countries like China. It could also inadvertently keep the price of domestic fossil fuels higher. Repealing the IRA would have a "chilling effect" on commercial investments, potentially costing Texas tens of thousands of jobs.
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