The U.S. House on Aug. 12 passed a bill with major implications for the power generation industry, joining the U.S. Senate in supporting the Inflation Reduction Act (IRA). The bill, which now heads to President Joe Biden for his signature, includes major provisions to combat climate change, including support for a variety of clean energy initiatives. It also offers benefits for the fossil fuel sector.
The bill passed by a 220-207 vote along party lines, with Democrats in the majority. The U.S. Senate, also along party lines, passed the bill 51-50 on Aug. 7, with Vice President Kamala Harris casting the deciding vote.
