And scroll down for even more from the Biden-Harris Administration!
Powering Progress
Read about this sweeping legislation and please share. Most people don’t know much or anything about what’s in this bill. Let’s spread the word!
This legislation, signed into law in August, 2022, features the largest climate initiatives in history, along with significant healthcare savings for everyday Americans. It also funds the IRS to provide much better customer service and technology upgrades along with tax law enforcements for wealthy Americans and corporations. This bill will save millions of Americans thousands of dollars.
Key Components
- The IRA includes historic investments in clean energy tax credits that will encourage the development of carbon-reducing infrastructure and move toward a 40% emissions reduction from 2005 levels by 2030.
- Credits and subsidies for technologies including renewable electricity, hydrogen, clean vehicles, carbon capture and sequestration, and nuclear power will be extended by 10 years to 2032.
- The bill will also incentivize the creation of clean energy jobs, lower energy bills by $500 to $1,000 each year, and invest in disadvantaged communities bearing the cumulative impacts of environmental injustice.
- This bill saves millions of Americans hundreds of dollars each year in health care costs
Every household in America will benefit. Whether it’s ushering in a clean energy future, creating millions of good-paying union jobs, or keeping money in the pockets of our hard working families, the federal government is solving big problems and building a better future for generations to come.
Throughout our history, we’ve joined across races and places to solve big problems and build a better future for generations to come. Now, we’ve taken the next step by passing the historic Inflation Reduction Act – to power our communities with locally-made clean energy, create good-paying union jobs, and lower drug prices – by making wealthy corporations pay what they owe. A core group of elected leaders are fighting for what our families need, while other politicians threaten our freedoms and block the solutions Americans favor. We’ve shown what we can do by joining together to protect our freedoms, our families, and our futures. By unleashing our power in our communities, our workplaces, and our polling booths, we will make this a place where we all have the freedom to breathe easy and thrive, no exceptions.
By working together
- We will make this a place where people of all races, backgrounds, and genders have the freedom to breathe easier and thrive.
- We’ve shown what we can do by joining together to protect our freedoms, our families, and our futures – and we’re just getting started.
- Building more power is how we’ll defeat Big Oil and Big Pharma and address the damage they’ve done, truly making this a place where everyone can breathe easier and thrive.
- Every single Republican in Congress voted against the Inflation Reduction Act.
- By unleashing our power in our communities, our workplaces, and our polling booths, we will protect our freedoms, our families, and our futures.
Investments in America During the Past 4 years:
This map on public investments shows the scope of the Bipartisan Infrastructure Law, CHIPS and Science Act, the American Rescue Plan and the Inflation Reduction Act and the impact these investments are already having in states and territories across the nation.
MANUFACTURING THE FUTURE
Private companies have announced $866 Billion so far in commitments to invest in 21st century industries like:
- $395B Semiconductors & Electronics
- $173B EVs & Batteries
- $77B Clean Energy Manufacturing & Infrastructure
- $28B Biomanufacturing
- $38B Heavy Industry
- $155B Clean Power
INVESTING IN AMERICA
- $537.3 Billion in public infrastructure, semiconductor and clean energy investments in the United States, including:
- $302.1B announced for transportation investments in roads, bridges, public transit, ports and airports, as well as electric school and transit buses, EV charging, and more.
- $70.2B announced for grants, rebates, and other initiatives to accelerate the deployment of clean energy, clean buildings, and clean manufacturing. This is not inclusive of the clean energy tax incentives from the Inflation Reduction Act.
- $23.6B announced to make our communities more resilient to climate change and other threats.
- $37.3B announced to provide clean water across the United States and improve water infrastructure. This includes $5.8B dedicated to lead pipe and service line replacement.
These funds represent announced funding and allocations from the Bipartisan Infrastructure Law, CHIPS and Science Act, and the Inflation Reduction Act.
INTERNET FOR ALL
The goal is to connect everyone in America to affordable, reliable high-speed internet.
- $83.1B in funding to provide affordable, reliable high-speed internet to everyone in the United States.
- 23.3M households in the United States are saving on high-speed internet through the Afford able Connectivity Program. (Funding for this program will expire unless Congress acts to extend the program.)
Funding figures represent compilations of relevant programs from the Bipartisan Infrastructure Law, American Rescue Plan, Consolidated Appropriations Act, and annual budgets.
BRINGING JOBS BACK TO AMERICA
- 3.8% unemployment rate in the United States, with 15.2M new jobs created, including 114K jobs in clean energy.
- 16.8M applications to start new businesses.
- Over 220,000 childcare programs kept open because of the American Rescue Plan.
- Over 100,000 restaurants and bars kept open.
LOWERING COSTS
- $8.8B in home energy rebates to help hardworking families cut their energy costs by weatherizing their homes and replacing old appliances with more efficient models.
- 65.4M seniors and other Medicare beneficiaries will save money on prescription drug costs because of a $2,000 yearly cap on out-of-pocket prescription drug costs, a $35 monthly cap per insulin prescription, free vaccines, inflation rebates, and a drug price negotiation program.
- 21.4M individuals in the United States signed up for health insurance through the Affordable Care Act Marketplaces during the Open Enrollment Period for 2023 and will benefit from average savings of about $800/year from lower health care premiums because of the Inflation Reduction Act and American Rescue Plan.
Investments in Indiana During the past 4 Years
MANUFACTURING THE FUTURE
Private companies have announced $25 Billion so far in commitments to invest in 21st century industries like:
- $6B Semiconductors & Electronics
- $9B EVs & Batteries
- $800M Clean Energy Manufacturing & Infrastructure
- $5B Biomanufacturing
- $2B Heavy Industry
- $3B Clean Power
INVESTING IN AMERICA
- $7.5 Billion in public infrastructure, semiconductor and clean energy investments in Indiana, including:
- $4.7B announced for transportation investments in roads, bridges, public transit, ports and airports, as well as electric school and transit buses, EV charging, and more.
- $897.4M announced for grants, rebates, and other initiatives to accelerate the deployment of clean energy, clean buildings, and clean manufacturing. This is not inclusive of the clean energy tax incentives from the Inflation Reduction Act.
- $127.2M announced to make our communities more resilient to climate change and other threats.
- $450.6M announced to provide clean water across Indiana and improve water infrastructure. This includes $108.5M dedicated to lead pipe and service line replacement.
These funds represent announced funding and allocations from the Bipartisan Infrastructure Law, CHIPS and Science Act, and the Inflation Reduction Act.
INTERNET FOR ALL
The goal is to connect all Hoosiers to high speed internet.
- $1.5B in funding to provide affordable, reliable high-speed internet to everyone in Indiana.
- 426K households in Indiana are saving on high-speed internet through the Affordable Connectivity Program. Funding figures represent compilations of relevant programs from the Bipartisan Infrastructure Law, American Rescue Plan, Consolidated Appropriations Act, and annual budgets.
BRINGING JOBS BACK TO AMERICA
- 3.5% unemployment rate in Indiana, with 229.2K new jobs have been created including 3K jobs in clean energy.
- 287.7K applications to start new businesses.
- 3.3K childcare programs kept open because of the American Rescue Plan.
- 1.2K restaurants and bars kept were kept open.
LOWERING COSTS
- $182.1M in home energy rebates to help hardworking families cut their energy costs by weatherizing their homes and replacing old appliances with more efficient models.
- 1.4M seniors and other Medicare beneficiaries will save money on prescription drug costs because of a $2,000 yearly cap on out-of-pocket prescription drug costs, a $35 monthly cap per insulin prescription, free vaccines, inflation rebates, and a drug price negotiation program.
- 295.8 K individuals in Indiana signed up for health insurance through the Affordable Care Act Marketplaces during the Open Enrollment Period for 2023 and will benefit from average savings of about $800/year from lower health care premiums because of the Inflation Reduction Act and American Rescue Plan.
INVESTMENT SPOTLIGHTS
- Eli Lilly plans to invest a total of $3.7 billion in two of its manufacturing sites in Boone County, which will create up to 700 jobs once completed. The company will also provide $15 million in funding for scholarships to students interested in pursuing careers in pharmaceutical manufacturing.
- SkyWater intends to build a new $1.8 billion semiconductor R&D and manufacturing facility through a public-private partnership with the State of Indiana and Purdue University. The project expects to create 750 new, permanent jobs.
- Samsung and Stellantis will build a $2.5 billion electric vehicle battery factory in Kokomo, Indiana that is expected to create 1,400 jobs.
- Fort Wayne International Airport has been awarded $21.8 million from the Federal Aviation Administration to revamp its existing terminal building.
- Through EPA’s Great Lakes Restoration Initiative, Indiana has received $45 million to clean up and restore the Grand Calumet River, which is contaminated with heavy metals and PCBs after nearly a century of heavy industrial activity in the region.
- The Department of Energy awarded up to $1 billion to Michigan, Illinois, and Indiana for the Midwest Hydrogen Hub. This Hub will produce clean hydrogen from renewable and nuclear energy and natural gas with carbon capture, and it will be used for industry, such as steel and glass production, transportation, and power generation.
- The Indianapolis Public Transportation Corporation has been awarded $33 million to build a multi-purpose operations and maintenance facility that will also serve as the agency’s headquarters.
Learn more about these investments and projects at www.invest.gov.
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