Environment & Energy Congressional Round-Up | August 1-7

Highlights:

The Inflation Reduction Act of 2022 (H.R. 5376), passed the Senate. With $369 billion of investments in climate change and energy security, and carbon emissions reductions of 40 percent by 2030, it is a transformational step in achieving U.S. climate goals, as EESI executive director Daniel Bresette noted in a press release, as well as a companion article.

The Senate Committee on Banking, Housing, and Urban Affairs held a hearing on the economic costs of climate change, including discussion of several bills on the topics of flood insurance, green transportation, a federal clean energy fund, and sustainable communities. The National Flood Insurance Program Reauthorization and Reform Act of 2021 (S. 3128) would revise and reauthorize the National Flood Insurance Program, including establishing means-tested policy discounts. The BUILD GREEN Infrastructure and Jobs Act (S. 874) would direct the Department of Transportation to establish a grant program for green transportation, while the Buy Green Act of 2021 (S. 1925) would establish a clean energy fund at the Department of Energy. Finally, the Livable Communities Act of 2021 (S. 2616) would create the Office of Sustainable Communities within the Department of Housing and Urban Development.

 

To see the full update of environmental and energy legislation from last week, view the pdf.