When Congress passed the biggest investment ever in climate and clean energy a little more than two years ago,

President Biden called it a giant step forward.

Tonight, Ali Rogin looks at how it's measuring up so far.

The inflation reduction act or IRA signed by President Biden back in 2022

invest close to

and three hundred and seventy billion dollars to combat climate change and to date there's been more than a hundred billion dollars in private

investment and roughly one hundred thousand new jobs created in clean energy

manufacturing. Together the IRA and its companion bill, the CHIPS Act,

offer more than $400 billion in funds focused on jump-starting

the manufacturing industry, reducing emissions,

and providing cleaner electricity to the economy.

But a mammoth undertaking like this

is not without obstacles, worsening market conditions,

over production in China, and uncertainty in the 2024 U.S. presidential election

are putting up roadblocks for a number of these projects.

According to analysis by the Financial Times newspaper,

40% of major IRA manufacturing projects have been delayed or

paused indefinitely.

Jack Conness is a policy analyst at Energy Innovation Policy and Technology, a nonpartisan research and analysis firm.

Jack, thank you so much for being here, so we're two years into the IRA.

You've been tracking these projects.

What do we know?

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