August 09th, 2022

Jeff Merkley: Inflation Reduction Act
is a big step in combating climate chaos

From massive wildfires and devastating floods, to record-breaking hurricanes and heat waves, we are clearly seeing the impacts of climate chaos across our nation and the world. As we wrap up another week of record high heat and face the continued threat of wildfire season here in Oregon, it’s clear we urgently need bold climate action.  

And this weekend, Congress took a historic step towards transitioning to clean, renewable energy, and to pump up American manufacturing and create good American jobs in the process.
Yesterday, I voted in favor of the Inflation Reduction Act of 2022 (IRA), which will be the biggest piece of climate legislation ever enacted in the U.S. when it is signed into law. This historic investment is intended to bring down consumer energy costs, rapidly deploy renewable energy, increase American clean energy security, and substantially reduce carbon pollution—all while creating good-paying, Made in America jobs.

Specifically, the climate elements of the Inflation Reduction Act of 2022 will:  

• Rapidly deploy renewable energy and increase 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 and ensure that the transition to a clean economy creates millions of American manufacturing jobs and is powered by American-made clean technologies.  
• Lower 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.  
• Invest in decarbonizing all sectors of the economy through targeted federal support of innovative climate solutions.  
• Focus 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. 
• Support resilient rural communities by investing in farmers and forestland owners to be part of growing climate solutions, and by ensuring rural communities are able to better adapt to a rapidly changing climate.  
• Do all of this while incentivizing good, union jobs and investing in a Made in America future for clean and renewable energy.   

A summary and breakdown of the Energy Security and Climate Change Investments can be found here.
I know this isn’t a silver bullet that will solve the climate crisis, and indeed the bill does include some fossil fuel giveaways that are a mistake. But overall this bill is a huge step in the right direction. Climate chaos is a global problem, and requires global solutions. It’s time for America to step up as a leader on this global issue by tackling the problem here at home.
If we want to prevent the most catastrophic effects of climate chaos—with millions of lives and livelihoods on the line—then we need to make a bold and rapid transition to a renewable energy economy. The U.S. must be ambitious in the fight against climate catastrophe. The Inflation Reduction Act of 2022 is the beginning of that effort and I will continue to do everything I can to drive legislation, executive actions by the President, and private sector changes that ensure we protect Americans’ health, homes, businesses, and savings from climate disaster.

All my best,
Jeff