Long Branch, NJ - Congressman Frank Pallone, Jr. (NJ-06) held a press conference today in Long Branch with local environmental advocates on the historic climate achievements in the Inflation Reduction Act. The bill is the single-largest investment in climate action in American history and includes key climate provisions originally authored by Pallone or advanced through his Energy and Commerce Committee. Pallone managed the bill on the House Floor. He also joined President Biden at the White House this month when the President signed the bill into law.
The Inflation Reduction Act makes unparalleled investments in climate action, clean energy, and environmental justice, all while creating new, homegrown clean energy jobs and lowering energy costs for American families. Crucially, the bill will slash our nation’s climate pollution by 40 percent by the end of this decade – putting our country on track to meet our climate goals.
“The Inflation Reduction Act is a historic achievement in our efforts to tackle the climate crisis. It includes many provisions from my Energy and Commerce Committee that will aggressively drive down dangerous methane pollution, deploy low- and zero-emission technologies nationwide, and reduce energy usage through home energy efficiency upgrades. Critically, it will also launch a new era for homegrown clean jobs and more stable, more affordable energy costs for American families,” Pallone said. “This bill also includes funding for living shoreline projects to protect coastal communities like the ones along the Jersey Shore. I’m thrilled that we are finally taking aggressive action to combat the worsening climate crisis. This legislation lays the foundation for a cleaner, more prosperous future for us all.”
The Inflation Reduction Act also includes an unprecedented $2.6 billion to conserve and restore coastal habitats and protect coastal communities that is modeled on Pallone’s living shorelines legislation. Living shoreline infrastructure projects use natural materials and systems, including dunes, wetlands, and oyster reefs to support the natural flood resilience of healthy shoreline ecosystems. Natural infrastructure is cost-effective and adaptable to changing environmental conditions. It also enhances ecosystem functions which can improve water quality and wildlife habitat protection.
The bill reinstates the Superfund tax on oil companies effective January 1, 2023. The tax is expected to raise $11.7 billion. Pallone has long advocated for reinstating the tax on these companies to ensure polluters, not taxpayers, foot the bill for cleaning up waste and pollution.
The Inflation Reduction Act includes provisions that clarify and reinforce the Environmental Protection Agency’s (EPA) authority to regulate greenhouse gas emissions as air pollutants. This is in direct response to the Supreme Court’s decision in West Virginia v. E.P.A that limited the EPA’s authority under the Clean Air Act.
"The Inflation Reduction Act is the biggest investment this nation has made to fight climate change and expand clean, renewable energy. It's the start we need to reduce climate pollutants in line with the scientific consensus and this gives the nation the kickstart we need. It fulfills the promise of the Superfund law, to ensure that polluting industries pay to clean up toxic sites and protect the Jersey Shore from coastal flooding,” said Doug O'Malley, Director of Environment New Jersey. “Congressman Pallone has been an environmental champion for decades in Congress – this law reflects years of work from the Congressman and the environmental community to put clean energy, electric vehicle and energy efficiency front and center as a national priority."
"This landmark law is good for the planet and good for the people of New Jersey, and we’re proud to stand with Chairman Pallone and celebrate the Inflation Reduction Act,” said Ed Potosnak, Executive Director of New Jersey League of Conservation Voters. "The Inflation Reduction Act that Congressman Pallone championed will invest nearly $370 billion to fight climate change, helping us get toward our goal while creating 9 million good-paying union jobs and lowering costs for working families and small businesses."
"One of the great climate change mitigation benefits from the Inflation Reduction Act is the funding for living shorelines. Instead of standard bulkheads, these living shorelines use natural materials to make our coastlines more resilient, protect homes, and improve natural habitat," said Greg Remaud, CEO and Baykeeper of the NY/NJ Baykeeper.
“The Inflation Reduction Act will significantly accelerate New Jersey’s progress on creating a more just and sustainable clean energy economy,” said Richard Lawton, Executive Director of the New Jersey Sustainable Business Council. “Its well-designed incentives will boost market innovation and leverage private investment in ways that will lower energy costs, create good paying jobs, and drive sustainable growth at the scale required to meet the challenge of climate change. Thanks to President Biden, Congressman Pallone and other congressional climate leaders for delivering the most sweeping clean energy and climate legislation in U.S. history.”
“President Biden’s Inflation Reduction Act is a monumental law whose positive impacts will be felt for generations. The IRA is a historical investment in climate resilience, renewable energy, green jobs, and a green economy. Billions of dollars will be allocated for things like solar and wind, clean transportation, residential energy efficiency, creating equitable and prevailing wage jobs, and helping to reduce energy costs for all. The law goes even further by investing in programs to clean up legacy pollution, creating toxic free communities, and conserving and restoring coastal habitats, further mitigating climate change and protecting our communities,” said Anjuli Ramos-Busot, NJ State Director for the Sierra Club. “This is especially important and necessary when facing severe storms like Hurricane Ida. Now that the Anniversary of Hurricane Ida is here, we thank Congressman Pallone for his continuous support and commitment to mitigate climate change and protect New Jersey families.”
KEY CLIMATE PROVISIONS FROM THE ENERGY AND COMMERCE COMMITTEE:
The Inflation Reduction Act includes a number of key energy and environmental provisions originally authored by Pallone and other Committee members and passed out of the Committee in September 2021 following a three day markup. The provisions were then passed by the House of Representatives in November 2021. Following are some of the key provisions that passed out of the Committee.
Methane Emissions Reduction Program:
The Inflation Reduction Act establishes a Methane Emissions Reduction Program to control excess methane pollution from the oil and gas industry above specific waste emissions thresholds. The program builds on the Environmental Protection Agency’s (EPA) existing Greenhouse Gas Reporting Program, recognizes the cleanest performers, holds individual companies responsible for their own leaks and excess methane pollution, drives innovation in the sector, creates good-paying jobs, and supports projects to protect American communities from the effects of the climate crisis.
Greenhouse Gas Reduction Fund:
The Inflation Reduction Act invests $27 billion in nonprofit, state, and local climate finance institutions that support the rapid deployment of low- and zero-emission technologies, including solar and other distributed resources. These financing entities will build on the successful track record of similar programs across the United States, leveraging public and private investment to help communities reduce or avoid greenhouse gas emissions and other forms of air pollution. At least 40 percent of investments will be made in low-income and disadvantaged communities.
Investing in Clean Energy Innovation and Communities:
The Inflation Reduction Act invests more than $15 billion in multiple loan and grant programs at the Department of Energy (DOE) to support the development of innovative technologies and American manufacturing of zero emission transportation technologies. The legislation also provides the Secretary of Energy with the resources to enable more than $300 billion in investments in American energy, Tribal, and other communities, all while reducing electricity ratepayer costs.
Climate Pollution Reduction Grants:
The Inflation Reduction Act invests $5 billion through EPA for states, municipalities, and Indian Tribes to develop and implement plans to reduce climate pollution. The legislation provides $250 million to develop plans and directs the Agency to make planning grants to at least one recipient in each state. EPA will then competitively award $4.75 billion to implement the plans to reduce climate pollution.
Electric Transmission:
The Inflation Reduction Act invests almost $2.9 billion into creating a 21st Century energy grid capable of ensuring the reliable delivery of clean energy throughout the United States. The legislation funds grants to assist states with siting transmission projects, funds DOE’s transmission planning and modeling capabilities, and will support approximately $20 billion in loans for constructing high priority transmission lines and grid infrastructure. These measures will reduce consumer costs, maintain the reliable delivery of electricity during extreme weather events, and are necessary to address the climate crisis.
Clean Heavy-Duty Vehicles:
The Inflation Reduction Act invests $1 billion in replacing certain heavy-duty vehicles, such as refuse trucks and school buses, with zero emission vehicles through a new grant program at the EPA. In addition to funding new clean vehicles, this program will provide funds for associated infrastructure and workforce development and training.
Appliance and Building Efficiency Rebates:
The Inflation Reduction Act invests $9 billion in home energy efficiency and appliance electrification rebates and ensures that low-income and underserved communities have access to these energy-saving upgrades. Buildings account for some 30 percent of greenhouse gas pollution in the United States. Reducing energy usage and electrifying appliances is crucial to tackling the climate crisis.
Industrial Emissions Reductions:
The Inflation Reduction Act invests $5.8 billion for installing and implementing advanced industrial technology at energy intensive industrial and manufacturing facilities. These critical investments in the hard to decarbonize industrial sector will drive large emissions reductions, while protecting jobs, competitiveness, and demonstrating the global leadership of U.S. industries.
Environmental and Climate Justice Block Grants:
The Inflation Reduction Act invests $3 billion to community-led projects that address environmental and public health harms related to pollution and climate change. This grant program provides direct funding to the communities most impacted by climate change and environmental injustice, funding local projects and solutions to decrease pollution and increase climate readiness.
Healthy Ports:
The Inflation Reduction Act invests $3 billion to reduce air pollution at ports and in the communities that surround them. Ports are vital economic lifelines in the United States, but also significant sources of pollution that contribute to climate change and threaten public health. These grants will support the purchase and installation of zero-emission equipment and technology, as well as the development of climate action plans, at ports. At least 25 percent of investments will be made at ports in nonattainment areas.
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