The Inflation Reduction Act is also the single-largest investment in climate action in American history and will create new clean jobs and lower energy costs for American families. The law will also slash our nation’s climate pollution 40 percent by 2030 and put us on track to meet our aggressive climate goals. It also includes $2.6 billion to conserve and restore coastal habitats with living shorelines projects that will protect coastal communities like the ones along the Jersey Shore.
The Inflation Reduction Act Holds Corporate Polluters Accountable
The Inflation Reduction Act will reinstate the Superfund tax on oil companies. It’s expected to raise $11.7 billion. I’ve long advocated for reinstating the tax on these companies to ensure polluters, not taxpayers, foot the bill for cleaning up waste and pollution. It’s estimated that 50% of New Jersey’s population lives within 3 miles of a Superfund site. In July, the Superfund tax was reinstated on chemical companies thanks to the Bipartisan Infrastructure Law. With this new funding source, the Environmental Protection Agency will be able to tackle more cleanups and address cleanup backlogs years in the making. Read more here
If you have questions about resources available to New Jerseyans related to COVID-19, click here to visit my website or call my offices directly:
Middlesex County: 732-249-8892
Monmouth County: 732-571-1140
Sincerely,
