PRESIDENT BIDEN’S CLEAN ENERGY PLAN IS AT THE HEART OF BIDENOMICS

To: Interested Parties  

From: Lori Lodes, Executive Director of Climate Power 

Date: June 27, 2023

Re: President Biden’s Clean Energy Plan is at the Heart of Bidenomics

Since taking office, President Biden has delivered on his promise of bold climate action, and to bring good paying manufacturing jobs back to the U.S. Today, his clean energy plan is a key component of “Bidenomics” — bringing manufacturing back to the U.S. and creating more good paying jobs that will grow the middle class. 

Big cities and small towns in red states and blue states and everywhere in between are already seeing the results of President Biden’s clean energy plan. 

The Inflation Reduction Act, Bipartisan Infrastructure Law, and the CHIPS and Science Act have helped turbocharge the clean energy economy and are fueling a new manufacturing boom at a near unprecedented speed. Already, businesses have announced 191 new clean energy projects in small towns and bigger cities nationwide totaling $242.81 billion in new investments—creating 142,016 new jobs. 

These climate and clean energy wins for the American people are a tangible, specific example of what Bidenomics means. They’ll be a centerpiece of President Biden’s campaign in 2024. 

The Immediate Economic Impact of President Biden’s Clean Energy Plan: 

President Biden’s clean energy plan has already helped create more than 142,000 good paying jobs in less than a year, providing opportunities for electricians, mechanics, construction workers, technicians, support staff, and many others. And that’s only the beginning. In the months since the landmark climate and clean energy investments in the Inflation Reduction Act became law, clean energy companies have invested $242.81 billion in 191 clean energy projects across 41 states.  

More than half of clean energy projects that have been announced or moved forward since the passage of the Inflation Reduction Act are located in districts represented by congressional Republicans, who are dead set on killing our clean energy economic boom. Republican presidential candidates, including Donald Trump, have promised to repeal the clean energy plan on the campaign trail. The contrast and what’s at stake in 2024 couldn’t be clearer. 

President Biden’s Clean Energy Plan is Popular

President Biden’s emphasis on investing in clean energy is popular – voters know his agenda is a job creator, will reduce their energy costs, and is unleashing a manufacturing boom, making Republicans’ vow to repeal clean energy investments a political loser. 

• 69% of voters say they supported President Biden’s Inflation Reduction Act after reading the following description: “As you may know, Biden and Democrats’ legislation that was passed by Congress is called the Inflation Reduction Act, which will give Medicare the power to negotiate lower drug prices, bring down health insurance premiums, and invest in clean energy like wind and solar power.” 
• 75% of voters say it’s important for the United States to increase its use of clean and renewable energy sources like wind power and solar energy, including 55% who say it’s “very” important. 
• Nearly half of Independents (48%) support President Biden’s clean energy plan, joined by nearly a quarter of Republicans (23%). 
• Nearly half of voters think Republicans should not roll back clean energy incentives, with 71% of voters saying that they would be upset if Republicans repealed home energy-efficiency incentives. 

Conclusion: 

President Biden’s clean energy plan has brought over 142,000 good paying jobs (and counting) back to American workers, and families are seeing the benefits already. President Biden made good on his campaign promises to meet the climate moment with clean energy investments, and he’ll make sure to tell that story on the 2024 campaign trail.