House Advances Build Back Better Act for the American People, Includes Largest Investment to Combat Climate Crisis in History
Washington, D.C. – Today, Representative Jared Huffman (D-San Rafael) voted to pass the Build Back Better Act, legislation that delivers once-in-a-generation action to transform people’s lives by lowering everyday costs from health care to childcare and more – fully paid for by making big corporations and the wealthiest pay their fair share of taxes. The bill makes meaningful investments to strengthen the economy for the long-term, creating millions of quality new jobs. Perhaps most important, it includes historic investments to confront the climate crisis, accelerate the transition to clean energy, and finally give consumers an alternative to the fossil fuel industry’s price gouging and pollution.
“Americans are demanding climate action because they understand the staggering cost of inaction, and they care about our future. But in addition to a livable planet, Americans deserve more economic security. House Democrats are delivering on our “for the people” promise with historic investments in affordable childcare, housing, health coverage, well-paying jobs, and more. This wouldn’t be possible if my progressive colleagues and I had not held the line for several weeks to secure commitments and assurances that this vote would happen – so that we could deliver on President Biden’s full agenda. I’ve been honored to play a role in shaping, negotiating, and now passing this historic legislation out of the House,” said Rep. Huffman. “Our efforts now shift to securing swift passage through the Senate, which, with President Biden’s firm commitment to securing the necessary votes, we expect to happen in the days ahead. This will be a great victory for the American people, for President Biden, and for future generations who deserve a livable planet and an economy that works for everyone.”
The Build Back Better Act is the largest investment to combat the climate crisis in history: cutting pollution, reducing energy costs, creating well-paying jobs with a transformational investment to ensure America leads the clean energy economy. More than one-third of the $1.7 trillion is reserved for investments to boost clean energy and combat climate change over the next decade, investing in more efficient buildings, climate-friendly farming practices, and a federal green bank and a new Civilian Climate Corps.
Among these climate investments are:
- Over $320 billion invested in renewable energy and energy efficiency tax incentives needed to meet President Biden’s goal of reducing U.S. carbon emissions by 50 percent below 2005 levels by 2030 while creating good, well-paying jobs in the emerging green economy.
- Clean vehicle tax incentives to support the widespread adoption of zero-emission cars, vans, and buses through point-of-sale consumer incentives and support for publicly accessible electric vehicle charging infrastructure.
- $29 billion invested for a Greenhouse Gas Reduction Fund to leverage public and private investment to support the rapid deployment of low- and zero-emission technologies, with at least 40% of investments made in disadvantaged communities.
- $5 billion invested in climate pollution reduction grants to states, municipalities, and Indian Tribes, including $4.75 billion for grants to be awarded on a competitive basis.
- $2.9 billion invested into creating a 21st Century energy grid capable of ensuring reliable delivery of clean energy throughout the United States.
- $12.5 billion invested in home energy efficiency and appliance electrification rebates.
- $10 billion invested in rural communities and rural electric co-ops to transition to renewable energy practices, providing jobs, and a more resilient and efficient energy grid.
- $27.2 billion invested in in forestry programs to help combat forest fires and contribute to healthy, resilient forests.
The Build Back Better Act contains key investments that Rep. Huffman has fought for in his role on the House Natural Resources and Transportation and Infrastructure Committees, including:
- An end to fossil fuel leasing in the Arctic National Wildlife Refuge.
- An end to new offshore fossil fuel leasing in federal waters along the Atlantic and Pacific Coasts and the Eastern Gulf of Mexico.
- $27.15 billion in investments in forestry programs to help combat forest fires and contribute to healthy, resilient forests.
- Including $500 million for wildfire management.
- $1 billion for Pacific salmon restoration and conservation.
- A number of investments for Tribes, including $945 million for Indian Health Service health facility construction, maintenance, and improvement; $500 million for tribal and Native Hawaiian climate resilience and adaptation; $490 million for tribal public safety and justice; and $25 million for emergency drought relief for tribes.
- Measures to raise public money, including:
- Directing the Department of the Interior (DOI) to hold offshore wind lease sales in federal waters around American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands,
- Requiring DOI to hold offshore wind lease sales in federal waters in the Eastern Gulf of Mexico and off the coasts of North Carolina, South Carolina, Georgia, and Florida,
- Increasing outdated oil and gas royalty rates and fees.
- $2.57 billion to purchase electric vehicles for the United States Postal Service and $3.41 billion in charging and support infrastructure.
- Changes to the tax code to ensure that water conservation rebates are not taxed.
The Build Back Better Act lowers costs and fights inflation because it is fully paid for by making big corporations and the wealthiest pay their fair share. No one making under $400,000 will pay more in taxes. The BBB also helps working parents return to the workforce, increasing supply.
- 17 Nobel Prize-winning economists: “Because this agenda invests in long-term economic capacity and will enhance the ability of more Americans to participate productively in the economy, it will ease longer-term inflationary pressures.”
- Reduces the deficit: Build Back Better even reduces the deficit by more than $36 billion over the first 10 years and at least $2 trillion over the second ten years.
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