By the authority given to me as President by the Constitution and laws of the United States of America, and to effectively implement the historic energy and infrastructure provisions in Public Law 117-169, commonly referred to the Inflation Reduction Act of 2022 (the “Act”), and to accelerate the global leadership of the United States in the innovation, manufacture and use of clean energy in a way that reduce consumer energy costs, create good-paying union jobs and sustainable and equitable economic opportunity, advance environmental justice, and address the climate crisis, it is hereby ordered as follows:
Section 1. Background. The Act is the single largest and most ambitious investment in the United States’ ability to advance clean energy, lower consumer energy costs, confront the climate crisis, promote environmental justice , and strengthen energy security, among other vital provisions that will lower costs for families, reduce the deficit, and grow and strengthen the economy. The Act will:
(a) build on the once-in-a-generation investment in infrastructure and US competitiveness set forth in the Infrastructure Investment and Jobs Act (Public Law 117-58) by accelerating the -use of clean energy technologies, making home energy efficiency and clean energy installations more affordable, and incentivizing the purchase of electric vehicles;
(b) enhance energy security and reduce energy costs for households, businesses, and government;
(c) revitalize American manufacturing by investing in domestic clean energy supply chains and creating good-paying union jobs, including in traditional energy communities;
(d) improve public health and advance environmental justice and economic opportunity for frontline communities that disproportionately bear the burden of cumulative exposure to industrial and energy pollution;
(e) promote climate justice by reducing harmful greenhouse gas emissions in line with the goal of achieving net zero emissions by 2050 at the latest;
(f) harness nature-based solutions — including climate-smart agriculture and forestry — that deliver economic benefits to rural communities, Tribes, farmers, ranchers, and forest owners;
(g) expand research and accelerate innovation in the development of clean energy, climate, and related technologies; and
(h) increasing the resilience of our communities in the face of a changing climate.
Achieving these goals will require effective implementation of the Act by my Administration, as well as by State, local, Tribal and territorial governments.
Sec. 2. Implementation Priorities. In implementing the Act, all agencies (as described in section 3502(1) of title 44, United States Code, except for agencies described in section 3502(5) of title 44) shall , as appropriate and to the extent consistent with the law, prioritize:
(a) invest public dollars effectively and efficiently, work to avoid waste, and achieve measurable and demonstrable results for the American people;
(b) drive progress toward meeting US climate goals to reduce greenhouse gas emissions 50-52 percent below 2005 levels in 2030, achieve a pollution-free electricity sector of carbon by 2035, and achieve net zero emissions by 2050 at the latest;
(c) advance environmental and climate justice through a whole-of-government approach, including through the Justice40 Initiative established in Executive Order 14008 of January 27, 2021 (Addressing the Climate Crisis at Home and Abroad), to protect and improve the health and well-being of frontline and frontline communities in the United States;
(d) promoting the construction of clean energy generation, storage, and transmission, and enabling technologies through efficient and effective mechanisms that incorporate community involvement;
(e) increase the competitiveness of the United States economy and investment in critical supply chains, including through the Act’s incentives and measures to strengthen manufacturing and supply chains domestic;
(f) increase high-quality job opportunities for American workers and improve equitable access to these jobs, including in traditional energy communities, through the timely implementation of the requirements of the Act for prevailing wages and registered apprenticeships and by focusing on high work standards and the and fair chance to join a union;
(g) reduce energy costs for working families, businesses, and governments at all levels while increasing energy security for the benefit of economic competitiveness and national security of -United States;
(h) accelerate innovation by directing the scientific and technical expertise of America’s researchers, businesses, and workers toward achieving breakthroughs in clean energy and climate technologies; and
(i) coordinate effectively with state, local, Tribal and territorial governments, as well as private sector stakeholders and non-governmental organizations, in implementing the critical investments described in this section to build sustainable and resilient communities.
Sec. 3. White House Office on Clean Energy Innovation and Implementation. There is hereby established the White House Office on Clean Energy Innovation and Implementation within the Executive Office of the President, which shall coordinate the policymaking process regarding the – implementation of the energy and infrastructure provisions of the Act and other essential initiatives. The White House Office of Clean Energy Innovation and Implementation shall be staffed by the Senior Advisor for Clean Energy Innovation and Implementation; shall have such personnel and other assistance as may be necessary to carry out the provisions of this order, subject to the availability of appropriations; and may work with established or ad hoc committees and interagency groups.
Sec. 4. Coordination between agencies. (a) To further the robust implementation of the energy and infrastructure provisions of the Act, Executive Order 14008 is amended as follows:
(i) The introductory text following the heading for section 203 is revised to read as follows: “There is hereby established a National Climate Task Force (Task Force). The Task Force shall be chaired by the Senior Advisor for Clean Energy Innovation and Implementation. The National Climate Advisor shall serve as Vice President.”.
(ii) Section 203(a) is revised to read as follows:
“(a) Membership. The Task Force shall consist of the following additional members:
(i) the Secretary of the Treasury;
(ii) the Secretary of Defence;
(iii) the Attorney General;
(iv) the Secretary of the Interior;
(v) the Secretary of Agriculture;
(vi) the Secretary of Commerce;
(vii) the Labor Secretary;
(viii) the Secretary of Health and Human Services;
(ix) the Secretary of Housing and Urban Development;
(x) the Secretary of Transport;
(xi) the Secretary of Energy;
(xii) the Secretary of Education;
(xiii) the Secretary of Homeland Security;
(xiv) the Administrator of the Environmental Protection Agency;
(xv) the Director of the Office of Management and Budget;
(xvi) the Director of the Office of Science and Technology Policy;
(xvii) the Administrator of the Small Business Administration;
(xviii) the President of the Council on Environmental Quality;
(xix) the Assistant to the President for National Security Affairs;
(xx) the Assistant to the President for Domestic Policy;
(xxi) the Assistant to the President for Homeland Security and Counter-Terrorism;
(xxii) the Assistant to the President for Economic Policy;
(xxiii) the Administrator of the National Aeronautics and Space Administration;
(xxiv) the Chief Executive Officer of the Corporation for National and Community Service;
(xxv) the Administrator of General Services;
(xxvi) the White House Infrastructure Coordinator; and
(xxvii) the heads of those departments, agencies, and other offices that the President or the Vice President may from time to time invite to participate.”.
(iii) To expand the mission of the National Climate Task Force to include the coordination of effective implementation of the Act, as described in section 2 of this order, the second sentence of the section 203(b) is revised to read as follows: “This Task Force shall facilitate the planning and implementation of major Federal actions to reduce climate pollution; increasing resilience to the impacts of climate change; protect public health; conserve our lands, waters, oceans and biodiversity; deliver environmental justice; spur good-paying union jobs and economic growth; coordinate the effective implementation of Public Law 117-169, commonly referred to as the Inflation Reduction Act of 2022, in coordination with the Infrastructure Implementation Task Force established in Executive Order 14052 of 15 of November, 2021 (the Implementation of the Act on Investment in Infrastructure and Employment), as appropriate; and accelerate clean energy innovation and deployment.”.
(iv) The introductory text following the heading for section 218 is revised to read as follows: “There is hereby established an Inter-Agency Working Group on Coal Communities and the Plants of -Energy and Economic Revitalization (Inter-Agency Working Group). The National Climate Advisor, the Assistant to the President for Economic Policy, and the Senior Advisor for Clean Energy Innovation and Implementation shall serve as Co-Chairs of the Working Group between the -Agency.”.
(b) Section 1-102(b) of Executive Order 12898 of February 11, 1994 (Federal Actions to Address Environmental Justice in Minority and Low-Income Populations), as amended by section 220( a) of Executive Order 14008, is further amended by revising subsection (xvii) and (xviii) and adding subsection (xix) to read as follows: “(xvii) the Assistant to the President for -Domestic Policy; (xviii) the Assistant to the President for Economic Policy; and (xix) the Senior Advisor for Clean Energy Innovation and Implementation.”.
(c) to support the implementation of the provisions of the Energy and Infrastructure Act, section 3(d) of Executive Order 14052 of November 15, 2021 (Implementation of the Infrastructure Investment and Employment Act), is amended by deleting “and” at the end of subsection (xi), which affects subsection (xii), and adding in its place the following: “(xii) the Senior Advisor for Clean Energy Innovation and Implementation; and (xiii) the heads of those departments, agencies, and other executive offices that the Co-Presidents may from time to time invite to participate.”.
Sec. 5. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
(i) the authority conferred by law on an executive department or agency, or their head; or
(ii) the functions of the Director of the Office of Management and Budget related to budgetary, administrative or legislative proposals.
(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and does not create, any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or its entities, officers, employees, or agents, or any other person.
THE WHITE HOUSE, September 12, 2022.
The Build Back Better Act makes the transformative investments at scale needed to meet the needs of the American people, address dangerous deficits in our society, improve our economic prospects, and position America to compete and win. in the coming decades.
Who is most hurt by inflation?
Inflation is at a 40-year high, but it’s affecting everyone differently. Inflation hurts poor people and those on fixed incomes the most. Inflation helps borrowers and investors in stocks, real estate, and commodities.
Who benefits when there is inflation? 1. Holders of fixed rate mortgages. See the article : New Haven chancellor quits ‘university politics’. Anyone with large fixed-rate debts like mortgages would benefit from higher inflation, says Mark Thoma, a retired economics professor at the University of Oregon. Those interest rates are locked in for the life of the loan, meaning they won’t go down and out with inflation.
Who is least affected by inflation?
The statistics list the 20 countries with the lowest inflation rate in 2021. In 2021, Samoa ranked first with a negative inflation rate of about 3.02 percent compared to the previous year.
Who is hurting the most from inflation?
The highest inflation rate in 40 years hurts all consumers. But Blacks and Hispanics are feeling the pain more acutely, says a NY Fed study. See the article : Proposed climate rule signals new era for real estate. This is because Blacks and Hispanics tend to spend more in high inflation categories.
Who is hurt the most in periods of inflation?
Inflation means that the value of money will decrease and buy relatively fewer goods than before. In short: Inflation will hurt those who hold cash savings and workers on fixed wages. To see also : Russia says the United States is behind Europe’s gas supply crisis. Inflation will benefit those with large debts who, with rising prices, will find it easier to repay their debts.
Who is getting hurt the most by inflation? The highest inflation rate in 40 years hurts all consumers. But Blacks and Hispanics are feeling the pain more acutely, says a NY Fed study. This is because Blacks and Hispanics tend to spend more in high inflation categories.
Which group is most harmed by high inflation?
The groups most adversely affected by inflation are generally wage earners in the informal sector with a specific wage rate and pensioners with fixed pensions as their income remains the same but due to an increase in the general level of prices their expenditure increases.
Do house prices increase with inflation?
House prices rise with inflation, so owners see appreciation. With the country some 3.8 million units short of demand according to Freddie Mac, upward pressure on prices means that longtime owners have already seen the value of their assets rise faster than at any time in recent memory.
Is it okay to sell my house during inflation? With a continued lack of supply and high buyer demand, now is a good time to sell your home. And with interest rates rising, it may be better to sell sooner rather than later – if rates rise much further, some prospective buyers may back away from home purchases.
Do house prices drop during inflation?
House prices tend to rise with inflation. Without economic and supply and demand pressures, the price of goods will remain the same. If the only change introduced in the economy is the increase of money, the price of goods will rise.
What happens to real estate during inflation?
How does it affect real estate? Possible positives in times of high inflation are rising prices for rental property rates. During times of high inflation, it can be difficult to get a mortgage. High mortgage rates mean that buyers have less purchasing power, so many continue to rent.
How can taxes be used to combat inflation?
In cases where demand increases due to increased private spending, the most effective way to manage inflation is by taxing profits. Taxing private income reduces the disposable income in question, and also reduces consumer spending. This has the effect of reducing aggregate demand.
What is the best way to fight inflation? Key Takeaways. Governments can use wage and price controls to fight inflation. These policies have gone wrong in the past, prompting governments to look elsewhere to control the economy. Governments can pursue a contractionary monetary policy, which reduces the money supply within an economy.
