Dear John,

I’m overjoyed to share that just now the U.S. House of Representatives passed the Inflation Reduction Act. This is without question the most significant climate legislation in U.S. history.  

This is a big deal. The legislation will cut 1 billion additional metric tons of emissions in 2030 and put America’s 50-52% reduction target within reach. 

The historic climate and clean energy investments in the Inflation Reduction Act offer a plethora of benefits for American citizens, such as:

 

• Save the average household $500 a year on energy bills
• Create more than 9 million job-years — an average of almost 1 million jobs sustained over the next decade
• Target investments to reduce pollution in overburdened communities, including cleaning up ports and schools, and funding community-led clean energy projects 
• Prevent 4,000 premature deaths annually due to reduced air pollution
• Make energy-saving technologies more affordable: $7,500 tax credits for new electric vehicles, up to $4,000 tax credits for used electric vehicles, up to $8,000 in rebates for heat pumps, up to $4,000 rebates for home electrical upgrades, and a 30% tax credit for residential solar

 

Read WRI’s article to learn more about many benefits that the Inflation Reduction Act’s climate-smart investments will bring. 

In coming weeks and months, WRI will publish additional insights about the legislation’s key climate and clean energy investments, and the many benefits they offer Americans and global efforts to fight climate change.  

Most importantly, after 30 years of effort by WRI and many, many others, Congress has finally passed transformative legislation that confronts the climate crisis head on. Today we celebrate! 

P.S. Read WRI’s media statement in response to this exciting news. 

Sincerely,

Dan Lashof 
Director, United States 
World Resources Institute