Five Things To Know About What’s In The Inflation Reduction Act
Everybody’s talking about this new Inflation Reduction Act, but what will it do? This new law will cut climate change emissions, create millions of jobs, and invest in environmental justice, all while reducing inflation.
Here are 5 things you need to know about the Inflation Reduction Act:
- First, it will tackle climate change by investing nearly $369 billion in clean energy while also holding oil and gas companies accountable for polluting our communities. These investments will create 9 million jobs in the next 10 years.
- This law directly helps disadvantaged communities that have been on the front lines of environmental health hazards for decades, with a historic $60 billion going to Environmental Justice priorities.
- Families will save money to power their homes and cars with emission-free energy like solar and wind, cutting energy costs by more than $1,000 for the average family through cheaper energy, tax credits, and energy efficiency.
- And economists agree that the bill directly reduces inflation, lowering costs for American families on everything from energy to healthcare.
- This law is not the end of the climate fight, but it is our last opportunity to have a fighting chance at stopping the worst effects of climate change.