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The Presidential Race and the Inflation Reduction Act

During election season, it's critical that Americans reflect on their priorities and how candidates are choosing to either address or ignore the priorities of the American people. According to Pew Research, American voters’ top political interests include the economy, democracy, education, healthcare and energy. Both parties' voters have polarizing views on all top concerns with the exception of energy. Regardless of party affiliation, voters seem to be equally concerned with energy policies. Americans are interested in addressing energy policies as they are associated with climate change mitigation, which has a global impact. 


Pressure from American voters, environmental organizations, global climate crisis movements and scientists have influenced Presidents and legislative officials to pursue policies meant to reduce greenhouse gas emissions and establish environmentally sustainable practices. One of the most significant pieces of legislation signed into law is the Inflation Reduction Act (IRA) which has now been dubbed the “largest investment in clean energy and climate action ever.” That said, it is believed that the IRA reflects American voters' policy priorities and is a necessary step to meet our national climate goals.


Our national climate goals are set at reducing greenhouse gas emissions by approximately 50% below previous 2005 levels by 2030, achieving 100% carbon pollution-free electricity by 2035 and a net-zero emissions economy by 2050 as well as reallocating 40% of the earnings from federal investments in clean energy to disadvantaged communities. In order to achieve these goals it is evident that the power sector, transportation sector, the agriculture sector and the infrastructure sector must be completely revamped. 


The IRA was signed into law in August of 2022 by President Joe Biden and sets out a determined plan to meet U.S. climate goals, strengthen energy security, create high-paying jobs in the energy sector, reduce health care costs for families and promote fair tax codes. Within 12 months after it was signed into law, the IRA has had a significant impact on American workers and underserved communities. The act created more than 170,000 clean energy jobs, amounted to $110 billion in clean energy manufacturing investments, allocated billions to protecting communities highly vulnerable to climate change and capped insulin costs at $35 a month (for qualifying seniors).


The Department of Energy expects the act to reduce greenhouse gases by 1 billion tons by 2030 which will help the U.S. reach 80% clean electricity goals alone. Electric vehicle sales have tripled and programs like The National Oceanic and Atmospheric Administration (NOLA) have been awarded $562 million for 150 projects across 30 coastal states for projects that will create climate resistance in the states. Essentially this Act sufficiently addresses two of the top concerns for American voters, the economy and energy. I strongly urge voters to look into whether or not their presidential candidate is supportive of this act. We are running out of time to address climate change and this presidential election is critical for the sustainability of not only our country but our planet.


Acknowledgment: The opinions expressed in this article are those of the individual author.



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