After State of Union, Amid Rising Costs and Growing Climate Disasters, Congress Must Act

Tonight, in his first State of the Union address, President Biden is expected to call on Congress to revive clean energy tax credits and other climate investments to help fight rising energy costs, combat climate change and keep the country competitive in the global marketplace.

Following is a statement from Bob Keefe, executive director of the national nonpartisan business group E2:

“Climate change is killing our economy, causing $145 billion in damage last year alone, driving up costs for crops and other commodities and sucking money out of consumers’ pockets with every wildfire, hurricane, flood and drought. 

“Russia’s war in Europe and soaring oil prices are reminders that building a clean energy economy in America will save consumers money and make us more economically secure.

“President Biden underscored the importance of federal investments to help blunt these costs and create a stronger economy powered by clean energy and electric vehicles and built by the strong hands of American workers.

“Congress needs to approve clean energy tax credits and other investments – now. There’s simply no time left to waste.”

Last week, more than 150 E2 members and other business leaders from across the country sent this letter to President Biden urging him to refocus and redouble his efforts with Congress to pass climate and clean energy investments and programs already approved by the House.

For more information also see these links:

• E2 FACTSHEET: Costs of climate change; benefits of climate action
• Details and data about the economic costs of climate change.
• Details on clean energy jobs, including data sorted by sector for every state, metro area and congressional district.
• E2’s annual Clean Jobs America report.
• E2’s Clean Jobs, Better Jobs report detailing wages for clean energy and fossil fuels jobs.
• Other E2 state and national reports.

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Environmental Entrepreneurs (E2) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org