Of the $2.2 trillion in total IRA funding, $369 billion was set aside for addressing climate change and energy issues, including $27 billion for the Environmental Protection Agency to develop the Greenhouse Gas Reduction Fund, effectively creating a national green bank. The IRA is a historic investment in the clean-energy transition its funding is spurring decarbonization across all economic sectors, from heavy industry to individual residents, from tribal and rural communities to urban centers. 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law, taking most people, even those who worked tirelessly to pass the bill, by surprise.
