RMI Celebrates Passage of Historic Climate, Clean Energy Bill

By RMI | August 16, 2022

Washington, DC – August 12, 2022

Moments ago, the US House of Representatives passed the Inflation Reduction Act the biggest climate and clean energy bill in US history. President Biden is expected to sign the bill this weekend.

According to independent analysis, the legislation will lower energy costs, increase investment in clean energy economic opportunities, slash domestic emissions by at least 40 percent, and stimulate jobs and economic growth.

“The passage of this bill reframes climate solutions in a way that aligns with the facts — transitioning to renewable energy is affordable, available, reliable, and equitable,” said Jules Kortenhorst, CEO of RMI (formerly Rocky Mountain Institute). “Hands down, the investments in this new legislation will help lower energy cost inflation.”

“With three major pieces of legislation passed under the Biden administration and this Congress, the Inflation Reduction Act, the CHIPS and Science Act, and the Bipartisan Infrastructure law, the United States has a massive, unprecedented level of investment to help us build a carbon-free economy,” said Sarah Ladislaw, director of RMI’s US Program. “Right now is the time to start building the clean energy future we want in this country — one that is healthier, more equitable, secure, and resilient.”

A more comprehensive overview of the provisions in this bill is available at RMI’s Inflation Reduction Act landing page.