New Climate Law Includes Grants, Health Provisions, Tax Incentives, and More

Note: This brief was updated October 20, 2022 to remove an incorrect funding level for Conservation Innovation Grants.

The Inflation Reduction Act of 2022 (IRA; P.L. 117-169) is a pared-down version of the ambitious Build Back Better agenda put forth last year. It provides funding to combat climate change (through both direct spending and tax incentives) and includes health provisions, revenue increases, cost savings, and more. This Budget Brief highlights appropriations and other key provisions of the law, emphasizing policies with a fiscal impact on states.