On July 27, the U.S. Senate Democrats released the Inflation Reduction Act (IRA). This measure aims to reduce U.S. CO2 emissions by 40 percent as of 2030 through over 100 separate climate, energy, and environmental justice programs. It also aims to lower health care costs and reduce the federal deficit. PERI researchers Robert Pollin, Chirag Lala and Shouvik Chakraborty estimate the U.S. employment impact of the climate-based programs. They find that, over a 10-year period, the IRA will generate an average of about 912,000 jobs per year through combined annual public and private investments at $98 billion.
>> Read BlueGreen Alliance Fact Sheet
>> Read Washington Post article
Relevant research:
>> Green Economy Transition Programs for U.S. States
>> "Industrial Policy, Employment and Just Transition" from America's Zero Carbon Action Plan
>> "Job Creation Estimates Through Proposed Economic Stimulus Measures"
