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Michael Thomas @michael-thomas.bsky.social · 07/01/2025

Biden proposed huge investments in climate and the "care economy." Manchin balked at the price tag. Manchin said they could do climate + one of the big care investments. No one could agree on what to prioritize. And so we got just the climate provisions (the IRA).

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Michael Thomas @michael-thomas.bsky.social · 07/01/2025

Since the election, a lot of people on the left have criticized the IRA. Thea and Daniel call it, "an awkward compromise between neoliberal, market-based policy and government intervention." And honestly, that's a pretty good description of it!

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Michael Thomas @michael-thomas.bsky.social · 07/01/2025

Most of the heavy lifting of the IRA—in terms of emissions reductions—is done through tax credits that are given to some of the biggest companies and investors in the world to build clean energy. You can definitely criticize that. But it's important to understand why it was..

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