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Inflation Reduction Act is wonderful, but not enough

If you were one of the more than 6,000 people who attended the Global Clean Energy Action Forum at the Pittsburgh Convention Center on September 21-23, you heard the praises of the recently passed Inflation Reduction Act (IRA) being shouted from the rooftops. And the legislation is wonderful. It provides almost $400 billion for a vast variety of tax credits and other “carrots” to energize the transition to a clean energy economy in the United States.

But it isn’t enough. There are no “sticks” in the legislation to motivate us to make the switch quickly enough to not only get the country to “net-zero” by 2050 but also maybe keep the planet from becoming unlivable in many regions.

Citizen’s Climate Lobby and thousands of economists have been pushing a process called carbon fee and dividend for many years. In a time of high inflation, it might seem strange to advocate for an increasing fee on fossil fuel emissions, raising the price of carbon-based products like gasoline and natural gas. But this process would return the fees to every American as a monthly dividend to help with the purchase of an electric car or an electric clothes drier or an electric heat pump — all of which would reduce fossil fuel emissions and qualify for new or improved tax credits provided by the IRA.

The Energy Innovation and Carbon Dividend Act (EICDA) will provide a carbon fee and dividend process. So, first, vote this November as if the Earth depends on it — because it does. Then, tell the new Congress to pass EICDA.

Bruce Cooper, Cranberry Township

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