Democrats passed the most consequential legislation with a 50–50 Senate. What’s next?
To cap off a recent roster of wins, Democrats passed the Inflation Reduction Act, a monumental piece of legislation to lower costs for families. Getting the legislation across the finish line took a full societal effort — from innovators and philanthropies to key members of the business community, and of course President Biden and this Democratic Congress.
Key BPI clients — Climate Power, League of Conservation Voters, and Building Back Together — were part of a large coalition of organizations that kept the pressure on Congress to ensure the bill included climate action and was supported by Democrats across the board in the final votes. BPI is proud to have supported these and future efforts with some of the most impactful organizations working for progressive change.
This bill marks the most significant climate action in history and will reduce carbon emissions by more than 40% by 2030 — and it does not raise taxes on anyone making less than $400,000 a year!
As President Biden would say, this is a BFD.
Building Back Together convened a broad coalition of dozens of organizations from climate to labor to health care groups that met regularly on ways to help pass and sell the President’s agenda, including the Inflation Reduction Act.
Climate Power, League of Conservation Voters, Natural Resources Defense Council, Environmental Defense Fund, Clean Energy for America, and other climate groups have been working towards this moment for the better part of a decade. In early 2020 they banded together to collectively show Democrats that voters overwhelmingly supported historic legislative action to address climate change and reduce emissions to protect future generations. Collectively they communicated consistently with Agenda Setters and climate activists for 20 months to demonstrate the value of this legislation.
The Inflation Reduction Act will create impactful changes across the board for American families:
- Delivering the most significant investment in climate action in U.S. history, including support for an EV infrastructure and incentives for innovation.
- Helping the U.S. reduce carbon emissions by over 40% by 2030.
- Lowering health insurance costs under the ACA for 13 million Americans by an average of $800 a year.
- Decreasing out-of-pocket costs for prescription drugs and capping drug costs at $2,000 per year.
- Saving families an average of $300 a year on their energy bills while strengthening American production of clean energy like wind and solar.
- Creating upwards of 9 million good-paying jobs over the next decade, an average of nearly 1 million jobs every single year.
- Reducing the deficit by nearly $2 trillion over two decades, which will help drive down inflation long-term.
The fight isn’t over. While Democrats have made significant progress on climate action, cutting costs, and tackling inflation, now it’s time to sell these policies to voters ahead of the midterm elections. Democrats have the message and a laundry list of accomplishments — now they need to invest in defining why this and other accomplishments help voters (which is easy, because they do!) and mobilizing voters to show up at the polls so progress can continue.