Prof. Aseem Prakash and colleague Prof. Nives Dolšak on the Forbes web site listing the reason why Senator Joe Manchin (D-WV) decided to make a legislative deal that includes climate policy.
"Last week on July 27, Senator Manchin (D-WV) and Senator Schumer (D-NY) announced the Inflation Reduction Act (IRA) which provides $369 billion for climate and energy projects, including a tax credit up to $7,500 for electric vehicles (EVs).
The IRA was a surprise to many. After all, on December 19, 2021, Manchin had withdrawn support for IRA’s previous incarnation, Build Back Better (BBB) Act, citing concerns about inflation. On July 14, 2022, he went further, announcing an end to negotiations on even a slimmed-down BBB....
On July 27, 2022, the day IRA was announced, inflation stood at 9.1%, higher than 6.4% in December 2021, when announced his opposition to BBB. Over the last six months, the wait time for EVs has not shortened either. So, why did Manchin agree to the IRA? And why now?"