ICYMI: BILLIONS IN CLIMATE DEAL COULD PROTECT U.S. COASTAL CITIES

Inflation Reduction Act Makes 254 Counties Eligible for Coastal Protection Funding

In Case You Missed It — The Inflation Reduction Act contains a revolutionary program that will fund nature-based projects that protect coastal communities, according to the New York Times. These programs are yet another way that President Biden and congressional Democrats’ historic bill is reshaping the fight against climate change.

READ COVERAGE FROM THE NEW YORK TIMES HERE

KEY POINTS: 

  • [Claire] Arre’s project aims to combat climate change using nature instead of human-engineered construction, and it is one of many across the nation’s 254 coastal counties that is eligible for billions in federal funding from the Inflation Reduction Act, the sprawling climate, health care and tax bill signed last month by President Biden.

  • A little-noticed section of Democrats’ climate legislation, which made the largest federal investment in history to combat the warming of the planet, injects $2.6 billion over five years into coastal communities across the country through grants to fund projects that prepare and respond to hazardous climate-related events and disturbances. 

  • The program makes up less than 1 percent of the total climate investment in the law, but it is widely regarded as a significant step and the latest sign of a shift by the federal government toward funding nature-based climate solutions.

  • Officials from coast to coast have long sought funding to restore natural habitats that are essential to beach communities, as floods wreak havoc in the East and rising sea levels increasingly threaten the West. By 2050, sea levels are expected to rise by a foot or more on average, increasing as much in that time as they have in the past century.

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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