{"version":"1.0","provider_name":"Citizens Utility Board","provider_url":"https:\/\/www.citizensutilityboard.org","title":"Breaking: Inflation Reduction Act is signed into law | Citizens Utility Board","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"XpBAH8ZmQh\"><a href=\"https:\/\/www.citizensutilityboard.org\/blog\/2022\/08\/16\/cub-explainer-the-inflation-reduction-act-2\/\">Breaking: Inflation Reduction Act is signed into law<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.citizensutilityboard.org\/blog\/2022\/08\/16\/cub-explainer-the-inflation-reduction-act-2\/embed\/#?secret=XpBAH8ZmQh\" width=\"600\" height=\"338\" title=\"&#8220;Breaking: Inflation Reduction Act is signed into law&#8221; &#8212; Citizens Utility Board\" data-secret=\"XpBAH8ZmQh\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/* ]]> *\/\n<\/script>\n","description":"The nation has taken a historic step forward in fighting costly climate change and lowering utility bills through energy efficiency with passage of the Inflation Reduction Act (IRA). President Biden signed the IRA into law on Tuesday, August 16, The landmark energy bill passed the U.S. House on Aug. 12 and the Senate on Aug. 7. (The legislation needed Vice President Kamala Harris to break a 50-50 tie in that chamber.) \u201cPassing the Climate and Equitable Jobs Act was a huge breakthrough in Illinois. But we\u2019ve got more work to do, and we need strong legislation, like the Inflation Reduction Act, coming out of Washington,&#8221; CUB Executive Director David Kolata said after the IRA passed the House. &#8220;CEJA and the IRA are about seeking consumer-friendly ways to fight climate change\u2013protecting our planet and at the same time protecting our pocketbooks.\u201d\u00a0\u00a0 Kolata thanked CUB supporters who sent more than 1,400 messages over the last week urging Washington to pass the IRA. The legislation includes significant provisions on taxes and health care, but the largest chunk of spending, $369 billion, goes to clean energy and efficiency improvements to fight climate change. CUB has long promoted the bill-cutting benefits of energy efficiency, and the watchdog argues that climate change unchecked will cost electric customers billions in higher bills in years to come. So fighting the world&#8217;s climate problems through strong clean energy legislation benefits consumers and their pocketbooks. The IRA represents the largest combined investment in energy efficiency in U.S. history and a &#8220;massive win for our climate and for reducing energy costs for households and businesses,&#8221; according to the American Council for an Energy-Efficient Economy (ACEEE). Below is a summary of key provisions: 40 percent reduction in carbon emissions by 2030. $9 billion for rebate programs focusing on lower-income consumers to help people make efficiency upgrades and switch to more efficient electric appliances.\u00a0 10 years of tax credits for making heat pumps, rooftop solar, electric HVAC and water heaters more affordable. $4,000 tax credit for lower\/middle income drivers to buy used clean vehicles, and a tax credit of up to $7,500 to buy new clean vehicles.\u00a0 $1 billion grant program to make efficiency upgrades to affordable housing. Tens of billions of dollars in tax credits, grants and loans to support U.S manufacturing of solar panels, wind turbines, electric vehicles and batteries. Get more details on the IRA: Here, here and here. \u201cThe legislation\u2019s landmark investment of $369 billion in climate and clean energy programs will help deploy thousands of megawatts of renewable power, create hundreds of thousands of good-paying American jobs, reduce the cost of electric power, and finally put the country on track toward achievement of our climate goals,&#8221; said the American Council on Renewable Energy. RMI, formerly the Rocky Mountain Institute, added that the legislation will lower energy costs, increase investment in clean energy economic opportunities, and stimulate jobs and economic growth.\u00a0\u201cHands down, the investments in this new legislation will help lower energy cost inflation,&#8221; said Jules Kortenhorst, CEO of RMI. The nonprofit, nonpartisan Committee for a Responsible Federal Budget estimated the IRA would reduce deficits by $1.9 trillion over [&hellip;]","thumbnail_url":"https:\/\/www.citizensutilityboard.org\/wp-content\/uploads\/2022\/08\/IRA2-copy-800x450.png"}