The climate investments contained in the Build Back Better Act (BBBA) would start to level the playing field and help ensure that every household in America has access to reliable, affordable clean energy. The bill’s $555 billion in clean energy spending spread over ten years is less than one-tenth of fossil fuel subsidies over the same period —and they would be transformational for our health, our climate, and our wallets. That’s because clean energy is already the cheapest energy on the market, and federal investments will make it even more affordable and widely available. But that will only happen if President Biden and Congressional leadership pass a bill.

The time to strike is now: Senator Joe Manchin has returned to the negotiating table, there is agreement in the Senate on the climate provisions in Build Back Better and they are fully funded for ten years, as has been requested for other portions of the bill. We need bold federal investments to hasten the shift to clean energy—without them, working families will remain at the mercy of volatile oil and gas markets and unscrupulous corporations. We need a level playing field. And we don’t have time to wait. The clean energy investments in BBBA must become law.

Investments in Clean Energy Can Level The Playing Field

Federal investments can secure a safe, stable, and sustainable clean energy economy. Modeling indicates that the Build Back Better Act’s $555 billion in climate spending would advance the clean energy transition over the coming decade. The transition powered by these investments would create millions of new clean energy jobs in every region of the country. The clean energy industry has a strong track record of job creation in low-income rural areas, and the industry’s low educational barriers to entry mean greater accessibility for underprivileged populations and more opportunities to lift up historically disadvantaged communities. 

Clean energy spending would also enhance grid resilience, both through intentional investments in grid hardening and through the side benefits of technologies like distributed solar. The clean energy transition will also be a win for public health, cutting some energy sector air pollution and avoiding massive health and environmental costs. And steadily declining clean energy prices—renewables are now “the world’s cheapest source of energy”—would provide relief to the working families most vulnerable to volatile fossil fuel markets.

Fossil Fuel Subsidies Support an Expensive, Volatile, and Destructive Industry

Volatile and unpredictable oil and gas markets are driving an ongoing energy crisis that’s increasing energy costs for working families across the country. Recent price surges have allowed entrenched fossil fuel industries to rake in some of their highest profits in years in an industry that consistently prioritizes big payouts for corporate executives over the needs of the American people.

On top of that, fossil fuels are a danger to the American people, a persistent threat to grid stability, and a looming risk for our entire economy. In 2018, fossil fuel air pollution was responsible for more than 1 out of every 10 deaths in the United States. Texas’ vulnerable natural gas infrastructure was largely responsible for sweeping blackouts during the state’s 2021 winter storm.

We Have No Time to Waste

For decades, the US government has been putting its finger on the scale—in favor of the polluting fossil fuel industry. And while the clean energy transition is well underway despite disproportionate federal support for fossil fuels, our energy mix isn’t shifting quickly enough. To reach President Biden’s climate goals, and to cease subsidizing entrenched fossil fuel corporations, we need these historic climate investments.This is a pivotal moment for the Biden presidency. It’s our last, best chance to act on climate before it's too late and give every American household access to clean, affordable energy. It’s a chance to cement his legacy as the president who put the country on a path to a liveable future by avoiding the worst impacts of the climate crisis. The climate provisions in the Build Back Better Act are fully funded for ten years and there’s consensus support in the Senate to get them across the finish line. 

President Biden and Congressional leadership cannot let this moment pass them by—it’s time to act, and secure the bold climate investments in the Build Back Better Act.