August 12, 2022

Our Statement on the Inflation Reduction Act

Good Energy Collective released the following statement from Deputy Director Jackie Toth on the passage of the Inflation Reduction Act:

“Today’s passage of the Inflation Reduction Act is unquestionably a monumental action on climate change. 

“Like so many other progressive groups focused on the climate crisis, we would have preferred an investment exceeding the $555 billion that President Biden first envisioned. But this bill is as solid a compromise as we can expect from the current Congress. 

“Modelers from multiple well-respected organizations estimate that the IRA will result in much-needed emissions reductions of approximately 40 percent from 2005 levels by 2030. Of course, realizing those reductions in a just and equitable way will depend on a lot of things going right. We must have good federal leadership and vision in carrying out IRA programs, and apply permitting and licensing practices that support clean energy adoption while respecting local values. We’ll also need to hold agencies accountable in implementing Justice40 goals and ensuring that no less than 40 percent of the investments from the bill’s environmental programs go toward under-resourced communities, in addition to the package’s investments that explicitly focus on environmental justice. And we’ll need to push for reforms to the 1872 mining law and adopt policies that encourage a circular economy to ensure that as domestic mining expands, we're protecting communities.

“As a low-carbon power source that pairs well with renewables and keeps the grid reliable, nuclear energy is a vital resource for our climate-constrained future. This bill’s essential investments in nuclear energy, from tax credits and uranium development to national laboratory funding for nuclear projects, will help our country lead by example in reaching ambitious climate goals.”