Senator Murray Helps Complete Largest Climate Action Investment to Build Clean Energy Economy, Lower Energy Costs

The Inflation Reduction Act’s nearly $370 billion in historic clean energy investments will lower home energy costs, create clean and well-paying clean energy jobs, advance energy independence, and drastically reduce carbon emissions

ICYMI: Statement by Senator Murray on IRA’s Historic Steps to Lower Americans’ Prescription Drug Costs – MORE HERE

Senator Murray: “We must face this moment with the urgency it demands, and that is exactly what the Inflation Reduction Act does.”

(Washington) – Today, US Senator Patty Murray (D-WA), helped pass it Inflation Reduction Act which offers the largest investment to combat the climate crisis in American history. The Inflation Reduction Act will invest $369 billion over the next decade in clean energy, clean air travel, energy storage and more⁠—the largest climate investment in United States history. The Inflation Reduction Act fully paid for by ensuring that the richest and most gigantic corporations simply pay their fair share—without raising taxes on any American making less than $400,000 a year—and would actually reduce the deficit by more than $300 billion

“Right now, Washington state is in the midst of a climate crisis: wildfires that are destroying entire communities, deadly heat waves, and droughts that are getting worse and more frequent. We must respond to this moment with the urgency it demands, and the Inflation Reduction Act takes important steps to do just that.” Senator Murray said. “Washington State is leader in clean energy and poised to take advantage of huge benefits from clean energy tax credits and subsidies to build a stronger clean energy economy—with huge cost savings for consumers and good-paying jobs in every part of our state. Whether you’re lowering your electric bill when you’re trying to cool or heat your home, reducing emissions in the Port of Seattle, or expanding solar and wind power in Central and Eastern Washington—the Inflation Reduction Act will make a world of difference. difference for Washington state families and our planet.”

The Inflation Reduction Act puts the US on track to reduce emissions by nearly 40% by 2030, lower energy costs at home and at the pump, create new, good-paying jobs in the green economy, invest in critical renewable energy, includes incentives for electric vehicles and will help achieve long-sought environmental justice by reversing the impact of pollution on low-income communities. Specifically, the IRA:

  • Lowers energy costs for Americans through policies that will lower prices at the pump and on the electric bill, help consumers afford technologies that will reduce emissions and energy prices, and reduce costs that would otherwise be was moving.
  • Increases American energy security through policies to support energy reliability and cleaner generation combined with historic investments in American clean energy production to reduce our dependence on China, ensuring that the transition to a clean economy creates millions of American jobs processing and powered by American made clean technologies.
  • Invests in decarbonizing all sectors of the economy through targeted federal support for innovative climate solutions.
  • It focuses investment on disadvantaged communities to ensure that communities that are too often left behind share the benefits of the transition to a clean economy.
  • It supports resilient rural communities by investing in farmers and forest owners to participate in developing climate solutions and ensuring that rural and communities are better able to adapt to a rapidly changing climate.
  • It provides tax credits for clean electricity sources and energy storage and about $30 billion in targeted grant and loan programs for states and utilities to accelerate the transition to clean electricity.
  • Provides up to $20 billion in loans to build new clean vehicle manufacturing facilities across the country.
  • Offers grants to reduce air pollution in ports, with $3 billion in funding, supports the purchase and installation of zero-emissions equipment and technology in ports.

A summary of the climate provisions of the Inflation Reduction Act can be found here.

Senator Murray made it clear that Congress must take bold action on climate, outlining his priorities in a July 2021 op-ed in the Seattle Times, stating: “Congress must send President Biden a landmark investment in action for the climate that will protect our planet for current and future generations – nothing less will cut it.” Senator Murray has rallied her Senate colleagues as a leader in the fight to pass bold climate action legislation and continues to push for climate action in every way possible.

Leave a Comment

Your email address will not be published.