California Attorney General Rob Bonta has aligned with a coalition of 17 attorneys general to urge Congress to maintain the Inflation Reduction Act (IRA). This legislation, enacted in 2022, is recognized for its significant contributions to the national economy, energy resources, and infrastructure through tax credits, incentives, and grant programs. The coalition emphasized these benefits in a letter sent to congressional leaders.
Attorney General Bonta highlighted the importance of the IRA by stating, “The IRA is not just an investment in our economy, it is an investment in the future of our nation. From creating good-paying jobs to strengthening energy security, this transformative law tackles some of the most pressing issues of our time while lowering costs for Americans across this country.” He further cautioned against repealing the act: “Repealing the IRA would be a grave mistake for our nation, and we urge Congress to preserve this landmark legislation, which has already and will continue to deliver substantial benefits to American families, workers and businesses.”
Since its passage, the IRA has attracted billions in private funding for communities focused on energy production and manufacturing. Initial estimates indicate that private investments have outpaced public spending five- to six-fold within two years due to tax credits from the act. The coalition's letter argues that many benefits are yet to materialize and that dismantling any part of the law could hinder domestic energy security and economic progress.
Joining Attorney General Bonta are attorneys general from Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New Mexico, New York, North Carolina, Rhode Island, Vermont, and Wisconsin.
A copy of their letter can be accessed online.