Last week, Senate Democratic leadership announced the introduction of the Inflation Reduction Act, that if passed, would be the largest U.S. investment in climate and clean energy. The bill, though imperfect, would lower barriers to solar access, create good paying jobs, invest in underserved and overburdened communities, and put the country closer to achieving our climate targets.
The deal is indeed a compromise that includes objectionable handouts to the fossil fuel industry. Nevertheless, it contains many major steps towards climate equity. It includes $60 billion for environmental justice programs and several measures that directly reduce greenhouse gas pollution and benefit low-income residents, tribes, and territories like Puerto Rico. For example, it creates a new $7 billion Environmental Protection Agency grant program to enable deployment of residential solar in lower-income and environmental justice communities.
