“Analysis by Evergreen Action shows that EPA is falling behind on eight key climate change and air quality regulations for the power sector, with only two rules on track. After several delays and missed deadlines, EPA must go further, faster to finalize these rules during President Biden’s first term and keep our climate and environmental justice targets within sight. Closing the Pollution Gap – President Biden signed the Inflation Reduction Act (IRA) into law on August 16, 2022, injecting over $370 billion in climate and environmental justice investments into the economy and America’s fight against climate change. According to multiple analyses put out by the Biden Administration, Senate Majority Leader Schumer, and other independent experts, the IRA will help cut carbon pollution by around 40% below 2005 levels by 2030—bringing the U.S. closer than ever before to meeting the President’s pledge to reduce carbon pollution 50-52% economy-wide by 2030. Modeling by Energy Innovation has shown that the law would also create significant air quality benefits, preventing about 2,700 premature deaths in the year 2030. While the IRA represents historic progress on President Biden’s climate and pollution goals, there is still much more that needs to be done to ensure those reductions are realized and to close the 10-12% emissions gap still on the table. Cleaning up the power sector is the linchpin in achieving this economy-wide target, as other sectors, including transportation, buildings and some heavy industry, will rely heavily on clean electrification to decarbonize. The IRA contained large incentives to deploy new clean energy—an essential part of the President’s “standards, investment, and justice” approach to climate policy. However, the bill provided few of the standards that directly reduce power sector emissions.”
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