April 04, 2024

Climate Change and Clean Energy Task Force Applauds Biden Administration’s Selections for $20 Billion in Grants to Accelerate Clean Energy Economy

New Dems were instrumental in establishing the $27 billion Greenhouse Gas Reduction Fund through the passage of the Inflation Reduction Act.

Today, the New Democrat Coalition Climate Change and Clean Energy Task Force, led by Chair Scott Peters (CA-50), issued a statement on the Biden administration’s announcement of eight applicants selected to receive $20 billion to implement a national financing network for clean energy and climate solutions.

“To reach our nation’s climate goals and build the clean energy economy of the future, every community must have access to the affordable financing needed to implement transformational projects. That’s why New Dems fought to create the historic Greenhouse Gas Reduction Fund through the Inflation Reduction Act.

“The grantees announced today will mobilize $7 of private capital for every $1 of federal funds, financing tens of thousands of projects to reduce pollution and energy costs while strengthening public health and creating high-paying jobs across the country. And with more than 70 percent of the funds announced today dedicated to disadvantaged communities, the Administration is ensuring no community is left behind.

“New Dems look forward to continuing our work with the Administration to deliver on the promise of the Inflation Reduction Act, confront the climate crisis, and create a clean energy economy that benefits every American.”