Are the IRA climate-related tax credits a trillion-dollar problem?

Last week, once again, senior European policymakers cherrypicked large estimates of IRA subsidies to make the case for relaxing EU subsidy disciplines. Interested observers may be baffled by the range of IRA costings being reported. Simon Evenett teamed up with leading US trade and tax policy expert, Gary C. Hufbauer, to prepare a short guide that puts the "big numbers" in perspective.