ALBANY, N.Y. (Aug. 10, 2022) – After weeks of negotiations, the Senate passed a $750 million spending bill on Sunday afternoon that is designed to combat climate change, address health care costs and raise taxes on large corporations.
The plan, called the Inflation Reduction Act, passed the Senate by a vote of 51 to 50, along party lines, with Vice President Kamala Harris providing the tie-breaking vote. The legislation is expected to pass the House on Friday without changes and will then be sent to President Biden.
Through the bill, more than $300 billion would be invested in energy and climate reform, the largest federal clean energy investment in U.S. history. It will also make prescription drugs more affordable and create a 15 percent minimum tax for corporations making $1 billion or more in income.
University at Albany experts are available to offer insight on the Inflation Reduction Act, including:
- Diane Dewar, an associate professor at the School of Public Health, is an expert in health economics, with a focus on equity within the healthcare system. Her work centers on how public policy impacts healthcare financing, especially among vulnerable populations including individuals using Medicaid and Medicare services. She has written numerous articles on this topic.
- Jeff Freedman, a research associate at the Atmospheric Sciences Research Center, is an expert in renewable energy, boundary layer meteorology and climate change. He has been involved in offshore wind energy research since the early 2000s and runs an environmental law consulting firm. He recently offered insight on the Supreme Court’s EPA ruling.
- Kajal Lahiri, a Distinguished Professor of Economics, researches applied econometrics, economics of health and disability, New York regional economic trends, economics of energy, transportation economics and energy/gasoline prices. He is regularly quoted in the media, including a recent article on recession fears.
- Richard Perez, a senior researcher at the Atmospheric Sciences Research Center, is an expert in the fields of solar radiation, solar energy applications and daylighting. He spoke with the UAlbany News Podcast about his blueprint to achieve 100 percent clean energy in the U.S. and is regularly quoted in the media about renewable energy topics.
About the University at Albany:
A comprehensive public research university, the University at Albany-SUNY offers more than 120 undergraduate majors and minors and 125 master’s, doctoral and graduate certificate programs. UAlbany is a leader among all New York State colleges and universities in such diverse fields as atmospheric and environmental sciences, business, education, public health, health sciences, criminal justice, emergency preparedness, engineering and applied sciences, informatics, public administration, social welfare and sociology, taught by an extensive roster of faculty experts. It also offers expanded academic and research opportunities for students through an affiliation with Albany Law School. With a curriculum enhanced by 600 study-abroad opportunities, UAlbany launches great career