Inflation Reduction Act

The last few weeks presented a few surprises on Capitol Hill. Within the last month and a half many believed that a deal was in the works for the Build Back Better Act with negotiations within the Democratic party being vigorously pursued.


Seemingly, at the last hour, all was lost despite those apparent laborious negotiations with disappointment expressed by many who worked to advance this for many reasons including work on the environment and combating climate change.


Then in a surprise to many not privy to inside discussions, the Inflation Reduction Act was created. It remains to be seen if it will truly reduce inflation in part because there are many components of calculated inflation that in some ways are beyond the control of legislative action.


It does reinvigorate enthusiasm and action on the climate front at a cost. According to the Committee for a Responsible Federal Budget website, it calculates a cost for the energy and climate piece at roughly $386 billion. Tax credits for clean electricity, clean manufacturing, and clean fuel are main beneficiaries.

Health savings and new revenue are projected to compensate this and result in a surplus of funds despite this massive outlay for climate.


Health savings and new revenue are projected to compensate this and result in a surplus of funds despite this massive outlay for climate.

Interestingly, conservation, rural development and forestry has garnered $35 billion. The USDA is welcoming $19 billion to support climate smart agriculture. That program will be administered through the Natural Resource Conservation Service (NRCS).


Here in Summit County, we continue to experience a very precipitous summer though the larger issue of drought is still very much part of the challenges the Western US faces. In final negotiations on this bill, $4 billion was added specifically for drought in the West.


FOLBR will continue to examine this legislation, work with our representatives, and seek funding that will support our Climate Resiliency Initiative efforts in the Lower Blue River Valley and beyond.


Tom Koehler





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