The IRA’s New Conventional Wisdom

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Janet Yellen, US Treasury secretary, speaks following a tour of Suniva solar cell manufacturing plant in Norcross, Georgia on March 27.

was first up for consideration in 2022, it received scant support from corporate America, including the oil-and-gas sector. So it may come as a surprise that it was almost an applause line when John Podesta, the senior Biden administration official charged with implementing the law, told a gathering of energy executives in Houston last week that the law is here to stay. “If you're a politician who wants to turn your back on your community,” Podesta told the crowd.

Even some elected Republicans are singing a somewhat similar tune. In Houston, I asked Alaska Senator Dan Sullivan whether he would support the energy provisions in the IRA if the GOP were to win the White House in November. Sullivan criticized the Biden Administration’s implementation of the law, but told me that it would be hard to undo. Ultimately, he said, he would want to “take a hard look” at the law to decide what provisions he might support.

 

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