Biden’s climate plan is back, and it’s all about building things

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President Biden Delivers Remarks On The Inflation Reduction Act
Photo by Anna Moneymaker/Getty Images

It’s been a long road for the “Build Back Better” plan — but Wednesday night, after over a year of both public and private negotiations, we finally saw a proposal that could actually clear Congress. Renamed the “Inflation Reduction Act,” the new Sen. Manchin-endorsed proposal would raise roughly $740 billion in revenue through a combination of tax increases and price negotiation — and divert $370 billion of that money to fighting climate change. If it makes it through Congress, the bill would be the largest climate spending package in US history — and with alarming heatwaves in progress all around the world, it couldn’t come at a better time.

But while the sheer volume of the package is striking, it’s even more interesting where the...

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