The Most Climate-Positive Legislation in US History!
This week, President Joe Biden signed into law the Inflation Reduction Act of 2022 (IRA). With it comes $369B worth of funding for clean energy and electrification projects over the next decade. This bill has brought new hope and optimism to those of us who spend every day working on this transition and much needed relief for Americans seeking refuge from high fossil fuel costs, both at the pump and the building carbon debt.
For the climate community, the past 18 months of the Biden administration has been an emotional roller coaster. President Biden was elected in no-small-part because of his campaign promises around climate action. In fact, this cabinet is the most climate-aggressive we’ve seen… ever.
Since taking office, his administration has been met by unified Republican opposition (an unfortunate sign of the times) aided by a handful of dissenting Democrats. When one party refuses to work across the aisle, it is to the detriment of all. Importantly, while Build Back Better may have been shot down, many of its core features survived and coalesced into what has become the IRA.
To many, the IRA feels like the first action on climate change that our government has taken. In reality, Congress has a long history of related legislation, and the IRA is the culmination of countless hours and tremendous resolve from thousands working within and outside of government to address climate change over the last 30 years. Our deepest appreciation extends to everyone that has played a part in bringing this Act to pass.
While the IRA is the boldest action that the U.S. has taken towards achieving our climate goals, it is still a far cry from the legislation that is still needed. So, while this is a time for celebration, it does not mean we can stop pushing forward, nor does it end the potential risks of climate change. Through additional legislation and increased personal action in the months and years ahead, we must accelerate our transition to a clean economy.
Atmos is doing everything in our power to build a clean, fair and transformed economy for all and we thank you for being a part of this journey with us.
Ravi and Pete, Atmos Co-Founders