If passed, it would be the most important climate bill in history by a huge margin. Preliminary analysis has found that this bill puts within reach the U.S.’ 2030 target of reducing emission by 50-52 percent below 2005 levels. Just as important, the bill makes the largest environmental justice investment ever. It creates predictable long-term tax treatment essential for wind and solar companies, and it jump-starts manufacturing of renewable energy technologies and electric vehicles (and the jobs that come with it). Rewiring America estimates that the programs in the bill will save low- and moderate-income households $1,800 per year while stabilizing home energy bills. And it addresses decades-old loopholes in federal lands oil and gas programs that have incentivized rampant speculation.
The Inflation Reduction Act puts climate emissions reduction targets within reach and makes the largest investment in environmental justice ever.
But as we hail these crucial steps forward, we also need to acknowledge the bill is a compromise and contains many failings and contradictions—indeed, it sometimes works at cross purposes with the goal of advancing a swift, just and equitable renewable energy transformation in the U.S. Most of those sacrifices come at the expense of public lands and waters and the communities that depend on them.
In a grievous attack on the rights, culture and sacred lands of the Gwich’in and Iñupiat peoples, the Inflation Reduction Act fails to restore protections for the Arctic National Wildlife Refuge from oil and gas leasing. And unfortunately, the bill shackles the investments in renewable energy on public lands to mandates that lock in more leasing for oil and gas.
While the bill would be a historic leap forward, it has many failings and cannot be the final word on U.S. investment in a safe and sustainable future.
No other lands are suffering the negative impacts of the climate crisis as severely as the Arctic Refuge, which stands on the front lines of climate degradation. We stand with the Gwich’in in calling for the repeal of the oil and gas leasing program in the Arctic National Wildlife Refuge.
Here is a breakdown of a few of the bill’s good and bad points.
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