Democrats Abroad is grateful to Democratic U.S. Senators for passing the Inflation Reduction Act of 2022, a bill that will have a positive impact on our world for generations to come. This legislation – a historic achievement and true cause for celebration – will ensure that big corporations and the wealthiest 1% pay their fair share, lower the cost of Medicare drug prices, and authorize an unprecedented investment of $369 billion in measures to promote renewable energy and mitigate climate change. Not a single Republican U.S. Senator voted for the bill.
With this legislation, Democrats have risen to the moment and brought hope to our planet. The United States, the second largest emitter of greenhouse gases globally, is now on its way to meeting our climate commitments and leading by example.
As another summer of devastating climate catastrophes rages around the globe, the Inflation Reduction Act will reduce greenhouse gas emissions by utilizing renewable and clean energy sources to replace fossil fuels, significantly lowering production costs of wind turbines, solar panels, and batteries for electric cars and incentivizing the private sector to employ wind, solar, and geothermally generated energy. The bill also provides tax incentives for private citizens to install solar panels and heat pumps in their homes and to buy electric vehicles. In coordination with President Biden’s Infrastructure Bill, the construction of charging stations will be ramped up across the entire country, including rural areas.
The Inflation Reduction Act allocates $27 billion for a “green bank” to invest in public-private partnerships that cut emissions. $8 billion will specifically be directed to disadvantaged communities, to further the cause of environmental justice, and $2 billion has been allocated for further research (e.g. fusion and high-energy physics). Most emissions reductions are anticipated in the power and infrastructure sectors, with carbon capture expected to increase 13-fold.
It is hard to overstate the magnitude of this legislative achievement. We must continue this work – to bridge the remaining 10% gap in emissions commitments made by the Biden administration, to address environmental justice issues more broadly, to completely phase out fossil fuels, to block drilling on federal lands and waters, and to continue healthcare and economic reform. There is only one way to do it: by (re-)electing Democratic leaders in November. Please register and request your ballot at www.votefromabroad.org – and make sure your friends and family, at home and abroad, have a plan to vote as well.
To keep up to date and active with Democrats Abroad efforts to tackle climate change, please join our Environment and Climate Crisis Council by clicking here. If you are not able to donate your time, please consider donating to Democrats Abroad today. $20.22 will help keep Congress – and the planet – blue. Thank you very much for your continued support of our organization.
In solidarity and hope,
Dana Freling, Environment & Climate Crisis Council Chair
Candice Kerestan, International Chair