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 energy costs at home, create clean good-paying clean energy jobs, promote energy independence, and drastically cut 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 Inflation Reduction Act does.”

(Washington, DC) – Today, U.S. Senator Patty Murray (D-WA), helped to pass the Inflation Reduction Act which delivers the largest investment in combatting the climate crisis in American history. The Inflation Reduction Act will invest $369 billion over the next decade into clean energy, clean air travel, energy storage, and more⁠—the largest climate investment in United States history. The Inflation Reduction Act is fully paid for by ensuring the very wealthiest and giant corporations simply pay their fair share—without raises taxes on any Americans making less than $400,000 per year—and would actually reduce the deficit by more than $300 billion.

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

The Inflation Reduction Act puts the U.S. on a path to cutting emissions by nearly 40% by 2030, lowers energy costs at home and at the pump, creates new, good-paying green economy jobs, invests in critical renewable energy sources, includes incentives for electric vehicles, and will help to achieve long-sought environmental justice by reversing the impact of pollution on low-income communities. Specifically, the IRA:

• Lowers energy costs for Americans through policies that will lower prices at the pump and on electricity bills, help consumers afford technologies that will lower 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 production coupled with historic investments in American clean energy manufacturing to lessen our reliance on China, ensuring that the transition to a clean economy creates millions of American manufacturing jobs, and is powered by American-made clean technologies.
• Invests in decarbonizing all sectors of the economy through targeted federal support of innovative climate solutions.
• Focuses investments into disadvantaged communities to ensure that communities that are too-often left behind will share in the benefits of the transition to a clean economy.
• Supports resilient rural communities by investing in farmers and forestland owners to be part of growing climate solutions, and by ensuring rural and communities are able to better adapt to a rapidly changing climate.
• Provides tax credits for clean sources of electricity and energy storage and roughly $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 at Ports, funded at $3 billion, support the purchase and installation of zero-emission equipment and technology at ports.

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

Senator Murray has made clear that Congress must take bold climate action, outlining her priorities in a July 2021 op-ed to the Seattle Times, stating, “Congress must send President Biden a landmark investment in climate action that will protect our planet for current and future generations — nothing less will cut it.” Senator Murray has rallied her colleagues in the Senate as a leader in the fight to pass bold climate action legislation and continues to press for climate action in every way possible.