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Inflation Reduction Act will lower energy costs & bring back jobs, says US energy secretary

September 08, 2022

GZERO Staff

Inflation Reduction Act Will Lower Energy Costs & Bring Back Jobs, Says US Energy Sec | GZERO World

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The Inflation Reduction Act is the Biden administration's biggest legislative win since the American Rescue Act early in his term in office. But what will the bill accomplish?

Energy Secretary Jennifer Granholm says it'll fight climate change by giving Americans incentives to use renewable energy in their cars and homes. And that, in turn, will lower the cost of energy prices at home.

But what Granholm is really excited about is how the IRA will boost the domestic energy manufacturing sector — a big deal for someone who watched so many jobs go overseas as the former governor of Michigan.

The IRA, she tells Ian Bremmer on GZERO World, will encourage reshoring many of those jobs.

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Inflation Reduction Act will lower energy costs & bring back jobs, says US energy secretary

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Inflation Reduction Act will lower energy costs & bring back jobs, says US energy secretary

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More from GZERO Media

The House Speaker demanded that the White House crack down on campus protests and called for the resignation of Columbia President Nemat "Minouche" Shafik.

Spanish Prime Minister Pedro Sánchez posted a letter on social media Wednesday announcing he would suspend all his public duties and take a few days to consider resigning.

Pyongyang’s Minister of External Economic Relations Yun Jong Ho became the first North Korean official to visit Iran in half a decade on Tuesday.

Trump has effectively argued that he should be off the hook for anything he did while in office.

GZEROMEDIA

Subscribe to GZERO Media's newsletter: Signal

President Joe Biden on Wednesday signed a law that could see TikTok banned nationwide unless its Chinese parent company, ByteDance, sells the popular app within a year. Expe

Even as three-quarters of South Sudan’s people face starvation, a squabble between the government and the UN over import taxes is leaving vital aid trucks stuck at the border.

Russian authorities have detained prominent Deputy Defense Minister Timur Ivanov, a long-standing close ally of Defense Minister Sergei Shoigu, on corruption charges.