If no further policies are implemented, we project that in 2030, US emissions will decline to 26-42% below 2005 levels (incl. The CAT estimates that implementation of IRA will accelerate the decline in US GHG emissions but the US will need to implement additional policies to reach its proposed 50-52% reduction target (including LULUCF). The IRA marks a radical shift in US climate action and, by putting emissions firmly on a downward trajectory, it sends a global signal that the world’s largest historical emitter is now beginning to meets its responsibilities. It sets the country’s emissions on a trajectory toward meeting its climate commitment to cut greenhouse gases (GHG) emissions in half by 2030, below 2005 levels, but more action is required to get there. On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA), the most ambitious and potentially impactful climate policy in US history.
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