Major investments in the environment and natural climate solutions
President Biden signed the Inflation Reduction Act of 2022 today, the most significant climate policy passed in the U.S. This landmark bill invests $369 billion in natural climate solutions, renewable energy, zero carbon transportation, clean manufacturing, and community resilience.
It contains funding for multiple programs that are critical to the work of land trusts, including investments in Farm Bill programs, the Forest Legacy program, natural and working lands, and coastal resilience.
Land Trust Impacts
- Maximizing the carbon storage capacity of our natural and working lands by increasing funds to federal programs that support climate smart agriculture and forestry.
- Investments in nature-based solutions to enhance climate resilience, reduce wildfire risk and restore natural areas.
- Programs that would help us better understand and address the burdens of front-line communities, increase funding for community engagement, and make direct investments to improve local air quality, lower energy costs, and expand access to clean energy.
- Significant new resources for more efficient and effective planning, permitting and environmental reviews, which will help engage communities, reduce conflicts, and ensure the clean energy buildout proceeds at a pace necessary to meet climate goals.
- $20 billion to support climate-smart agriculture practices.
- $5 billion in grants to support healthy, fire resilient forests, forest conservation and urban tree planting.
- Tax credits and grants to support the domestic production of biofuels, and to build the infrastructure needed for sustainable aviation fuel and other biofuels.
- $2.6 billion in grants to conserve and restore coastal habitats and protect communities that depend on those habitats.
- $14 billion to lower costs for families and support good-paying clean energy jobs in rural communities.
- $5 billion to protect communities from wildfires while combating the climate crisis and supporting the workforce through climate-smart forestry.