Senator Murray helps pass largest-ever climate action investment to build clean energy economy, lower energy costs

The Inflation Reduction Act’s nearly $370 billion in historic clean energy investments will lower home energy costs, create good-paying clean energy jobs, promote energy independence, and dramatically reduce carbon emissions

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Senator Murray: “We need to meet this moment with the urgency it demands, and that’s exactly what the Deflation Act does.”

(Washington) – Today, US Senator Patty Murray (D-WA) helped pass the Inflation Reduction Act which provides the largest investment in combating the climate crisis in American history. The Inflation Reduction Act will invest $369 billion over the next decade in clean energy, clean air transportation, energy storage and more⁠—the largest climate investment in United States history. The Inflation Reduction Act is fully paid for by ensuring that the wealthiest and most gigantic corporations simply pay their fair share — without raising taxes on Americans making less than $400,000 a year — and will actually reduce the deficit by more than $300 billion

“Washington State is currently in the midst of a climate crisis: wildfires devastating entire communities, deadly heat waves and droughts that are getting worse and more frequent. We must meet this moment with the urgency it demands, and the Inflation Reduction Act takes great steps to do just that.” Senator Murray said. “Washington State is leader in clean energy and poised to take advantage of the huge advantage of clean energy tax credits and grants to build a stronger, clean energy economy – with huge cost savings for consumers and good-paying jobs in every part of our state. Whether it’s lowering your electric bill when you’re trying to cool or heat your home, reducing emissions at the Port of Seattle, or expanding solar and wind power in Central and Eastern Washington, the Inflation Reduction Act will change the world making a difference for Washington state families and our planet.

The Deflation Act puts the U.S. on track to cut emissions by nearly 40% by 2030, lower energy costs at home and at the pump, create new, high-paying jobs in the green economy, invest in critical renewable energy sources, includes incentives for electric vehicles and will help achieve long-sought environmental justice by reversing the impact of pollution on low-income communities. Specifically, an IRA:

  • Lowers energy costs for Americans through policies that will lower prices at the pump and on electric bills, help consumers afford technologies that will reduce emissions and energy prices, and reduce costs that would otherwise be passed on to them .
  • Increases American energy security through policies to support energy reliability and cleaner manufacturing, combined with historic investments in American clean energy production to reduce our dependence on China, ensuring the transition to a clean economy creates millions of jobs American-made and powered by American-made clean technologies.
  • Invests in decarbonizing all sectors of the economy through targeted federal support for innovative climate solutions.
  • Focuses investment on disadvantaged communities to ensure that communities that are too often left behind share the benefits of the transition to a clean economy.
  • It supports resilient rural communities by investing in farmers and forest owners to be part of growing climate solutions and by ensuring that rural areas and communities can better adapt to a rapidly changing climate.
  • Provides tax credits for clean electricity sources and energy storage and approximately $30 billion in targeted grant and loan programs for states and electric utilities to accelerate the transition to clean electricity.
  • Provides up to $20 billion in loans to build new clean vehicle manufacturing facilities across the country.
  • Offers grants to reduce air pollution in ports, funded to the tune of $3 billion, supports the purchase and installation of zero-emissions equipment and technologies in ports.

A summary of the climate provisions of the Inflation Reduction Act can be found here.

Senator Murray made it clear that Congress needs to take bold climate action by outlining his priorities in a July 2021 op-ed for the Seattle Times, saying, “Congress must send President Biden a landmark investment in climate action of climate change that will protect our planet for now and future generations – anything less won’t cut it. Senator Murray has rallied his colleagues in the Senate as a leader in the fight to pass bold climate action legislation and continues to push for climate action in every way possible.

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