Inflation Reduction Act and the Impact on Sportsmen
There is a little bit of everything in the new Inflation Reduction Act. What does the sprawling legislation mean for hunters and anglers?
Sport Hawk | 8.16.2022
Today President Biden signed into law the $737 billion Inflation Reduction Act. While it is certainly one of the most significant pieces of legislation the administration has passed, months of political wrangling and rebranding may confuse some as to the bill’s primary purpose. Is it an economic package or a climate bill? Will it impact prices at the pump or lower prescription drug costs? Is it a landmark achievement or more of an attempt to salvage the administration’s record heading into the mid-terms?
Like America’s energy policy itself, the Inflation Reduction Act is sort of all of the above. While no one will be completely satisfied with the new law—and although it is a shadow of former ambitions—there is something in the bill for everyone, including hunters and anglers.
What the IRA means for Sportsmen
The most direct impact on sportsmen is a huge investment in private and public lands. Nearly $20 billion will go to Farm Bill programs to support conservation measures on agricultural, riparian, and wetland areas. This means more and better habitat for deer, ducks, pheasants, and other game species. That is a definite win for sportsmen.
The impact on public lands is more of a mixed bag. BLM lands, national forests, national parks, and national wildlife refuges all will receive considerable funding. However, oil and gas development on public lands could increase due to streamlined permitting processes and mandated minimums on the amount of new acreage that must be opened to drillers.
To counter that increased pressure, the act raises bonding rates on fossil fuel companies. That means if something goes wrong, the oil company (rather than taxpayers) pays for the clean-up. Royalty rates also increase, giving taxpayers a greater return on the lease of public lands. And there will be stiffer penalties for methane emissions. These added costs may curb the desire of energy companies to lease on public lands to begin with. So, the net effect on petroleum development on public lands remains to be seen.
For further reading:
THEODORE ROOSEVELT CONSERVATION PARTNERSHIP
“Five Things Hunters and Anglers Should Know about [the Inflation Reduction Act.]”
OUTDOOR ALLIANCE
“What Does the Inflation Reduction Act Mean for Climate, Public Lands, and Outdoor Recreation?”
GRIST
“The Inflation Reduction Act Promises Thousands of New Oil Leases. Drillers Might Not Want Them.”
Staff photo