The newly passed Inflation Reduction Act brings us the climate change legislation we’ve needed for decades. With these policies, Colorado can continue to grow the clean economy in our state and create more good-paying, union jobs.
The work of the Colorado Delegation in Washington, D.C., has created real benefits for our local communities. The bill connects strong labor standards to clean energy investments with a prevailing wage provision for renewable energy projects — ensuring stable careers with good wages and benefits throughout the state. And, we’re not talking about just a handful of new jobs here. An analysis commissioned by the BlueGreen Alliance from the Political Economy Research Institute (PERI) at the University of Massachusetts at Amherst estimates this program will create 9 million jobs across the United States over the next decade.
The bill also invests billions of dollars in emissions-reduction policies such as developing domestic clean-energy manufacturing and reducing emissions in the sector so U.S. supply chains can become the most reliable, clean and competitive in the world. Colorado manufacturers win here as they look to upgrade their facilities and build key construction materials, like steel pipe and rebar made in Pueblo. The Inflation Reduction Act also contains significant funding to increase energy efficiency and drive down carbon emissions by about 40% by 2030 — including massive investments in zero-emission vehicle fleets and tax credits to make new and used electric cars more affordable.
Other key programs include grants to build climate-resilient communities via wildfire mitigation and forest conservation, which will protect Coloradans from the devastating impacts of wildfires and drought that we continue to face. Also available is $2 billion in investments for National Laboratories, like Golden’s own National Renewable Energy Lab (NREL), to keep innovating climate and energy solutions. The Inflation Reduction Act will also take steps to invest in communities most impacted by pollution and the effects of climate change. Funding is dedicated to programs to make affordable housing more energy efficient and address pollution that front-line and low-income communities have suffered from for decades. Plus, the bill establishes a permanent extension of the Black Lung Excise Tax, critical for many of Colorado’s current and retired coal miners who struggle with costly care on top of a debilitating disease.
Colorado is home to some of the most beautiful natural landscapes in the world which is why investments in our air, water, land and communities remain imperative. Although we still have a lot of work left to protect vulnerable communities and to fight climate change, we are thankful to Sens. John Hickenlooper and Michael Bennet for securing real benefits for Coloradans. Our senators worked constantly behind the scenes — Sen. Hickenlooper crafted key language around inflation reduction and Sen. Bennet advocated for the expansion of clean-energy tax credits, incentives for domestic clean-energy manufacturing, and financial assistance for rural electric co-ops. Their hard work was integral to making The Inflation Reduction Act law. Our coalition looks forward to working with our members of Congress on even bolder, more ambitious solutions that tackle climate change and create good jobs.
The work to implement the Inflation Reduction Act in our great state begins now. We look to our elected leaders to ensure that these crucial dollars start flowing to our workers, our communities and our environment — all of which cannot wait any longer.
Sam Gilchrist and Jeremy Ross are members of the Colorado BlueGreen Alliance Steering Committee. Gilchrist is the Western Campaigns Director at the Natural Resources Defense Council (NRDC). Ross is the Business Manager of the International Brotherhood of Electrical Workers (IBEW) Local 68. Both are based in Denver.
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