A review of the Inflation Reduction Act, two years later. – Rio Grande Guardian

BROWNSVILLE, Texas – Two years ago, Nathan Burkhart, vice president of entrepreneurship and innovation for the Brownsville Community Improvement Corporation, predicted that the Inflation Reduction Act would have a great impact on South Texas.

In a guest column for the Rio Grande GuardianBurkhart wrote:

“The Inflation Reduction Act of 2022 will deliver exactly what South Texas needs: new investments in a clean and advanced energy economy, healthier communities with lower prescription drug costs, and significant progress in combating climate change, which threatens our lives, livelihoods, and the coastal tourism industry.

“The Inflation Reduction Act's $369 billion investment in clean energy makes it the most ambitious climate bill in U.S. history. And more importantly, it's also an ambitious job creation bill. It will create jobs in the manufacturing of wind turbines, solar panels and electric vehicles – all industries in which South Texas will be a leader.”

In a recent guest column for the GuardianRick Levy, president of the Texas AFL-CIO, said the inflation reduction bill fuels Texas' clean energy boom, creates jobs, improves the power grid and makes the state a leader in solar energy. He said the bill ensures Texas workers are at the center of the energy transition.

“Thanks to IRA funds, Local 20 of the International Brotherhood of Electrical Workers (IBEW) was able to train over 400 apprentice electricians to install solar panels and batteries in North Texas, giving them stable, well-paying careers,” Levy wrote.

Levy said one of the IRA's most distinctive features is its commitment to creating good, family-supporting jobs and aggressive incentives tied directly to work standards.

“Project developers seeking to build a new large-scale wind or solar farm will receive a 30% tax credit if they pay their workers the federal wage and benefits and hire a certain number of apprentices. This will improve the pay and quality of clean energy jobs while expanding career opportunities so people can pursue union careers in the clean energy industry,” Levy wrote.

“By providing tax incentives to projects that employ registered apprentices and comply with applicable wage guidelines, we can build a well-trained workforce and improve the quality and reliability of projects. These initiatives ensure that our workforce is prepared for the demands of the clean energy sector and provide career opportunities for young workers and those transitioning from the traditional energy industry.”

Levy added:

“The Inflation Reduction Act is a turning point for Texas' booming clean energy sector. It is a bold step to improve racial and economic justice, empower Texas workers, protect our environment, and lead the nation in the deployment of clean energy. The IRA will reshape our economy for decades, and this Made in America clean energy boom has only just begun.

Click here to read Levy's column.

US Representative Joaquin Castro expressed his strong belief that the groundbreaking legislation will have a positive impact.

The San Antonio Democrat issued the following bullet points about the benefits of the Inflation Reduction Act for Texans:

● 4.4 million seniors and other Medicare beneficiaries in Texas will save money on prescription drug costs because President Biden has implemented caps on prescription drug and insulin copayments, offered free vaccinations, provided inflation rebates and implemented a drug price negotiation program.

● In 2021, Texas already employed 238,884 clean energy workers. The Inflation Reduction Act expands these job opportunities and brings an estimated $66.5 billion in investments in large-scale clean energy generation and storage to Texas by 2030.

● Hardworking Texas families will receive $690 million in home energy grants to help them reduce their energy costs by weatherizing their homes and replacing old appliances with more efficient models.

● Texas employs 873,500 people in manufacturing, and the Inflation Reduction Act will help us develop the technologies of the future domestically, supporting local economies and strengthening supply chains.

● Texas is home to 3 million small businesses, or 99.8% of all businesses in the state. The Inflation Reduction Act will help them save money through tax credits that help improve energy efficiency and lower their electric bills.

● The Inflation Reduction Act will make it easier and more affordable for Texans to buy an electric vehicle. It will offer upfront rebates for new and used electric vehicles, helping middle-class Americans avoid the gas pump and save on fuel costs.

● The Inflation Reduction Act will significantly reduce pollution and help Texas not only avoid costly climate impacts from more extreme weather, but also improve local air quality.

● The Inflation Reduction Act supports climate-smart agricultural practices that help Texas’ 247,000 farms lead on climate solutions and reward their responsible farming practices.

● The Inflation Reduction Act will improve affordable housing and help thousands of Texans build resilience to increasing weather extremes.

Castro pointed out that the Inflation Control Act of 2022 faced stiff opposition when it was passed in Congress. He noted that the bill faced unified opposition from Texas' entire Republican congressional delegation, as well as the super-rich lobbyists and corporate interests that fund their political campaigns.

However, he said President Biden, Vice President Harris and the Democratic leadership in Congress have kept their promises to bring new jobs to Texas, lower prescription drug costs for millions of Texas seniors, address the climate crisis and reduce energy costs for homes.

“I was proud to join Texas Democrats in voting for this historic investment in good jobs, affordable health care and a better future,” Castro said.

“The Inflation Control Act is helping more Texans earn a living wage and make ends meet. In my district, 54,000 people signed up for a Marketplace health insurance plan this year with the help of new premium subsidies that save them nearly $600 annually, and the insulin price cap is helping 2,600 of my senior constituents save an average of $420 a year on the care they need to survive.”

Castro added, “The Inflation Reduction Act means more money in the pockets of working families to keep the air conditioners running, put food on the table, buy new school supplies and more. Texans are humble, hard-working people who do their jobs and don't ask for much from government – and the Inflation Reduction Act makes a big difference in their lives.”