President Biden’s clean-energy law will cost roughly $1.2 trillion, a figure three times more than what supporters initially claimed.
The Inflation Reduction Act was passed last year in an effort to address climate change, security and energy. Lawmakers who voted for the legislation said it would spur trillions in private-sector investment.
An analysis by Goldman Sachs Group Inc. found the $1.2 trillion in government outlays will unleash another $3 trillion in investment by businesses and individuals to build and expand climate-friendly ventures, Bloomberg reported.
Source : Goldman Sachs estimates Inflation Reduction Act could cost US $1.2 trillion