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Inflation Reduction Act of 2022: Statement by Secretary Granholm on Its Successful Completion and Final Passage

USInflation Reduction Act of 2022: Statement by Secretary Granholm on Its Successful Completion and Final Passage

Following the successful vote to adopt the Inflation Reduction Act of 2022 (IRA) in the House of Representatives of the United States, the United States Secretary of Energy, Jennifer M. Granholm, released the following statement.

The Inflation Reduction Act, the most important component of President Joe Biden’s vision for constructing a safe economy based on clean energy, has just been approved by the House of Representatives.

On its own, the Inflation Reduction Act is a victory of breadth and ambition that prioritises the welfare of the general population of the United States above that of other interest groups. The bill will liberate the inventiveness of the American people, allowing them to deploy renewable energy at a rate and on a scale that will put us in a position to decrease carbon emissions by half by the year 2030. It would reduce the prices of electric cars, rooftop solar panels, and energy-efficient home appliances for American households, which will enable them to save hundreds of dollars annually. It advances President Biden’s Justice40 agenda by making significant investments to safeguard and enhance land, water, air, and health in underprivileged areas throughout the country. In addition to this, it will provide the United States’ National Laboratories with the resources necessary to ensure that the country remains at the forefront of scientific discoveries.

President Biden has set the United States on a path to become the dominant player in the international market for renewable energy by passing the CHIPS and Science Act, as well as the Inflation Reduction Act, both of which were signed into law during his tenure as vice president. If we are successful, the rest of the world will combat climate change by using technology that were conceived of by American creatives, constructed with American components, and assembled by American labourers.

It goes without saying that successfully putting laws into practise is much more important to achieving success than merely enacting legislation. That indicates that the work being done by the Department of Energy has just started. I am confident that as the American people see and feel the benefits of our efforts to transform America’s economy, lower costs, create jobs, and strengthen our national security, we will build momentum and broaden support for further action. I say this because I am confident that the American people will see and feel the benefits of our efforts.

The future is bright, and it will be free of dirt and pollution.

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