With new Senate legislation, Congress is one step closer to gutting the Inflation Reduction Act

When the U.S. House of Representatives passed President Trump’s “One Big, Beautiful Bill” last month, gutting former President Biden’s landmark 2022 climate law almost in its entirety, all eyes turned to the Senate. The upper chamber of Congress must pass its own version of the bill to be reconciled with the House text before anything can get the president’s signature and become law.

On Monday, the Senate Finance Committee released legislative text that showed just how willing Senate...