“With President Biden’s signature on this landmark climate and clean energy law, 2022 is the year we pivot towards a better future. By lowering costs, creating millions of jobs, and finally getting serious about climate change, we are building a stronger, healthier, and more prosperous America.
“This new law gives us the chance to take bold action to reshape our economy and our future. If we seize that opportunity, the impact of this moment will be far reaching. This action signifies real commitment by the United States to our ambitious climate goals while encouraging even greater global pledges to stabilize the climate. The federal investments in key climate programs can unlock 10 times the private investment because power companies and other businesses will know America is making the transition to a clean energy economy. Auto companies can accelerate their move toward clean vehicles. EPA – with modernized and expanded authority from Congress – can do even more to protect families and communities from air pollution and climate change. And people across this country, especially the next generation, can continue creating climate solutions with the knowledge that they are not in this alone.
“There is, of course, much more to do. Perhaps most importantly, we must ensure this new law is applied with an emphasis on equity. The significant environmental justice investments in the bill are very welcome news, but this must only be the beginning. The law must be implemented to ensure that investments actually flow into communities that have faced far too much environmental injury.
“The historic law was made possible because people – young and old, from every walk of life – helped Congress to understand that the status quo was unacceptable. High energy prices, fires and floods, and the chaos of an economy tied to world oil markets was having a direct impact on American families. The Inflation Reduction Act gives us the chance to solve those real problems. President Biden deserves great credit for delivering this win for the American people, and we are encouraged that he will take this opportunity to reshape our future for the better.”
- Fred Krupp, president of Environmental Defense Fund
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One of the world’s leading international nonprofit organizations, Environmental Defense Fund (edf.org) creates transformational solutions to the most serious environmental problems. To do so, EDF links science, economics, law, and innovative private-sector partnerships. With more than 3 million members and offices in the United States, China, Mexico, Indonesia and the European Union, EDF’s scientists, economists, attorneys and policy experts are working in 28 countries to turn our solutions into action. Connect with us on Twitter @EnvDefenseFund