Environmental U.S. Inflation Reduction Act signed into law hydroreviewcontentdirectors 8.18.2022 Share U.S. President Joe Biden signed the Inflation Reduction Act into law on Aug. 16, with several provisions favorable to hydropower. H.R. 5376 provides for reconciliation of the Federal Budget pursuant to the Fiscal Year 2022 Budget Resolution, and addresses climate change, health care, taxation and the Federal deficit through direct appropriations, new programs, modifications to existing programs and changes to the tax code. With this legislation, the president said he is “delivering on his promise to build an economy that works for working families, including communities that have been underinvested and underserved for too long.” In a nutshell, this legislation will lower energy costs, advance environmental justice while building a cleaner future, and grow the economy from the bottom up and the middle out, according to a White House statement. Per the statement, the act will make clean energy more affordable and accessible and strengthen resilience to climate change. It also will reduce pollution and improve clean transit. Click here for previous coverage of the act, when the legislation passed the Senate, and how hydroelectric power was and was not included. Related Posts Drought conditions affect 73% of Missouri River Basin, hampering hydropower Reclamation invests $2 million to support promising research projects AECOM secures management contract with hydro-heavy NYPA TVA system hits highest ever summer peak