At Long Last, the Senate Has Passed Sweeping Climate Legislation

After years of stagnant climate policy, months of excruciating political negotiations, and a marathon weekend of back-to-back voting, the Senate passed the Democrats’ sweeping climate and health care bill on Sunday. 

The estimated $740 billion package, entitled the Inflation Reduction Act, includes close to $400 billion in climate spending—by far the largest climate investment in the nation’s history. The plan would be largely paid for by new taxes, including a 15 percent minimum tax on the handful of corporations with annual profits about $1 billion.

The bill represents a fraction...