It’s been a year since the Inflation Reduction Act (IRA) passed in Washington, and it has the capacity to make a huge impact for everyday North Carolinians… if we make sure working-class people steer how this federal money is used in our communities.
The IRA represents the largest-ever investment in fighting climate change. It also lowers health care and prescription drug costs, raises taxes on corporations, and boosts funding for the Internal Revenue Service to go after wealthy people trying to cheat on their taxes.
In short, this is legislation for poor and working people, not the rich. For too long, we have suffered the burden of the decisions of the rich and powerful. As corporations have made huge profits, we have barely been able to make ends meet while our land and our communities have been suffering the impacts of climate change.
We know government can work for us…when we make it work for us. We don’t just vote for working-class candidates, but we hold them accountable to our needs. We show up at local board meetings; we research and propose policies and interventions; and we turn out the vote for those who prove that they will turn out for us. That’s the sort of work we need to be doing to make sure the IRA funds coming to North Carolina support and create opportunities for multiracial, working-class communities.
Five Ways the IRA Helps North Carolina:
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Increasing access to clean energy for working folks, decreasing our bills. It will help lower energy costs across the state. The IRA provides $80 billion in financial rebates for millions of households to purchase clean energy products, such as more efficient heat pumps and appliances. For example, tax credits will help 170,000 North Carolina households put solar on their roofs.
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Good Paying Jobs. The IRA will bring an estimated $2.7 billion of investment in large-scale clean power generation and storage to North Carolina between now and 2030. This combined with other incentives for solar and wind will create as many as 38,568 jobs in our state by 2030.
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Increasing access to electric vehicles for regular folks. In North Carolina, millions of people will be eligible for discounts that make it cheaper to afford electric vehicles, with upfront discounts of up to $7,500 for new EVs and $4,000 for used EVs. (North Carolina has already submitted a plan to increase EV charging stations).
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Support for farmers and rural cooperatives. Our state has over 45,000 farms, and the IRA has funding and support to help local farmers lead on climate-smart farming solutions and reward their stewardship. Additionally, the IRA contains tax credits and investments to boost rural electric cooperatives’ resiliency, reliability, and affordability, including through clean energy and energy efficiency upgrades.
- Funding to protect our communities against climate change. The IRA will upgrade affordable housing including projects that boost resilience against extreme weather. In North Carolina, tens of thousands of people live in affordable housing units that are eligible for upgrades like flood-proofing and storm resistance, as well as clean energy and electrification.
