The Biden-Harris Administration’s Clean Energy Plan
It’s been two years since Vice President Harris cast the tie-breaking vote in Congress and President Biden signed the Inflation Reduction Act into law, creating the largest investment in clean energy and climate action in our nation’s history. The Inflation Reduction Act together with the Bipartisan Infrastructure Law is paving the way for a clean energy boom, saving families money on energy costs, creating good-paying jobs, making our infrastructure more resilient, and reducing air pollution to support a healthier, more prosperous future for our country.
Creating Jobs
The Biden-Harris administration’s commitment to building a clean energy economy is creating good-paying, high-quality jobs in every state. In the first two years of the Inflation Reduction Act, companies have announced or advanced hundreds of new clean energy projects, creating over 330,00 new jobs and driving $372 billion in new investments across America.
Saving Money
Over 3.4 million families saved $8.4 billion last year from Inflation Reduction Act consumer tax credits on clean energy home upgrades. These tax credits can save families up to 30% off heat pumps, insulation, rooftop solar, and other clean energy technologies. Additionally, over 250,000 Americans have claimed the Inflation Reduction Act’s Electric Vehicle tax credits, which offer $7,500 off a qualified new electric vehicle or up to $4,000 off a qualified used electric vehicle. These tax credits have saved Americans about $1.5 billion and nearly all buyers claimed the tax credit at the point of sale.
Cutting Pollution
The funds from the Inflation Reduction Act have unlocked access to clean energy programs for millions, especially those disproportionately impacted by climate change and pollution. This includes $3 billion for community-led climate justice projects, $4 billion to improve indoor air quality in schools in low-income communities, funds to replace diesel-fueled garbage trucks and city buses with zero-emission replacements, and more. By encouraging wide-scale transition to clean energy, the Inflation Reduction Act will limit emissions of airborne pollutants and improve air quality across the country. The Inflation Reduction Act’s landmark investments in climate action are expected to reduce carbon emissions by 40% by 2030.
Climate Resiliency
The Biden-Harris Administration understands Americans are facing extreme heat, rising sea levels, and natural disasters such as hurricanes as a consequence of climate change but with the passage of the Inflation Reduction Act and the Bipartisan Infrastructure Law, the Biden-Harris Administration has begun to rebuild the United States’ roads, bridges, and rails to tackle the climate crisis and invest in our communities. The Bipartisan Infrastructure Law will invest a historic $3.5 billion in the Weatherization Assistance Program, reducing energy costs for more than 700,000 low-income households by increasing the energy efficiency of their homes.
