Benefits In The Inflation Reduction Act That Are Accessible For All
While the Inflation Reduction Act of 2022 provides many direct incentives to home and car owners, every American will benefit from the climate provisions in this new law. From expanding clean energy access to disadvantaged communities, to helping everyone breathe cleaner air, the Inflation Reduction Act will bring us one step closer to securing a livable planet for generations to come.
Reduces Air Pollution:
More than 40% of Americans currently live in areas with unhealthy levels of air pollution, with communities of color disproportionately affected. The Inflation Reduction Act will fund programs to reduce air pollution, improve air quality monitoring, and to shore up enforcement technology. It will invest $11.5 billion in industrial emissions reduction programs, $406 million to address air pollution at large polluting facilities and schools, and fund zero-emissions technologies at U.S. ports. In addition, it will establish the first ever methane fee to hold fossil fuel companies accountable for excess emissions. These pollution reduction provisions are estimated to save nearly 4,000 lives annually by 2030 and prevent up to 100,000 asthma attacks a year by 2030.
Addresses Widespread Drought:
Currently, more than half of the contiguous U.S. is experiencing drought, with climate change expected to increase the severity in coming years. The Inflation Reduction Act provides $4 billion for drought relief programs, $550 million for domestic water programs in disadvantaged communities, and $12.5 million in emergency drought funding for Tribes.
Protects Our Public Lands:
The Inflation Reduction Act will allocate $1 billion to public lands conservation efforts, and invest in federal forest restoration programs. Not only do these investments keep our public lands beautiful for all to enjoy, but they also help clean the air by conserving green spaces and forests. The bill will also provide $2.6 billion for coastal climate resilience programs to mitigate climate change.
Connects Divided Communities:
The Inflation Reduction Act includes $3 billion for reconnecting communities divided by highways and other infrastructure through the Neighborhood Access and Equity Grants program. The funding would expand efforts contained in the Bipartisan Infrastructure Act, and could be used to add trails, bike lanes, and provide better connections to public transit.
Lowers Costs For Consumers:
As the name suggests, the Inflation Reduction Act will ease inflationary pressures by lowering some of the biggest costs Americans face, including energy, healthcare and prescription drugs. Over the next few years, the provisions in this bill will help reduce inflation in the economy as a whole, helping save consumers money.
Passes Energy Savings On To Renters:
More than one-third of Americans rent their homes, most of whom face barriers in participating in clean energy and energy efficiency programs as homeowners do. Over 30% of renters report that their home is overdue for energy-efficient upgrades, which landlords may be disinclined to invest in due to the high costs. However, the Inflation Reduction Act will allow landlords and homeowners to save on average $1,800 a year through incentives to install energy efficient appliances, rooftop solar and battery storage systems. These savings can be passed onto renters through lower energy bills.
Provides Funding For Local Communities:
The Inflation Reduction Act will establish grants for states, municipalities and Tribes to implement plans to reduce climate pollution, allowing local communities to target populations that will benefit the most. The bill establishes climate justice block grants for programs to reduce pollution and climate risks in low-income communities and communities of color. It also will establish a loan program to support energy development projects on Tribal lands, as well as loans for renewable energy projects in rural communities.