The Inflation Reduction Act was a landmark bill for numerous reasons, but specifically as it pertains to climate policy. Simply put, it represented the largest investment in clean energy in American history and would have come close to the previous administration's stated goal of halving emissions by 2030. But in the blink of an eye, the pendulum has swung all the way back, and all of that potential progress is now in grave danger.
In place of the IRA now sits the Big Beautiful Bill, which is poised to undo virtually all of the environmental regulations and tax credits signed into law just three years ago.
Among the bill's many extreme implications, it doubles down on dirty energy sources despite the clean energy market's increasing cost-efficiency, and earned the ire of Tesla CEO and one-time Donald Trump ally Elon Musk for eliminating all financial incentives to purchase electric vehicles. Suffice it to say, the American environmental lobby has been dealt a major setback.
These changes are not immediate, however.
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For instance, many of the IRA's tax credits expire at the end of 2025, so there is still nearly half a year left to take advantage of their offerings. For instance, one incentive that remains is a $840 rebate on induction ranges, which have rapidly become the superior option on the stove market.
They're safer than gas stoves, heat quicker, and are much more eco-friendly. Plus, for renters or people who cannot afford a major kitchen renovation, plug-in induction burners are excellent secondary options. They are relatively cheap compared to their full-stove counterparts (starting at $50).
Some of the clean appliance rebates from the IRA will remain after the passing of the BBB (including those for induction stoves, in fact). However, taking advantage of the incentives earlier rather than later could be worth thousands of dollars. At the current administration's rate of decision-making, turning your home into a sustainable paradise may soon be prohibitively expensive.
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