Inflation Reduction Act keeps on giving
To the Editor:
We are celebrating one year into the Inflation Reduction Act (IRA).
What do we have to show for it, what can we expect and how will it affect our pocketbooks? Here are four examples of how the IRA is powering progress and affecting North Carolinians directly.
Decreasing medical costs: We finally have the ability to negotiate some prescription drug costs for Medicare recipients. This has produced a cap on co-pay of $35 per month for insulin and benefitted almost 57,000 North Carolinians at a savings of $449 per year per enrollee. And, 13 million people in North Carolina are saving an average of $800 a year on health care premiums.
Bringing clean energy jobs: By generating our own renewable and reliable energy in the U.S., we can stabilize the market, increase affordability and create good paying jobs in N.C. The Clean Energy Plan has already supported over 190 new projects nationally and created more than 3,640 new jobs by March 2023 in North Carolina. In Chatham County, the largest investment in North Carolina’s history — by the company Wolfspeed — is investing $5 billion in a semi-conductor materials plant expected to create 1,800 jobs that pay $77,000 by 2030.
Cutting home energy costs: Homeowners can get tax credits for energy saving home upgrades — $2,000 for heat pumps, $1,200 to weatherize, and others that will reduce our taxes dollar for dollar, plus future bills should be lower. There are also rebates for energy saving appliances that reduce the cost of heaters, air conditioners, and clothes dryers.
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Infrastructure: Government funded projects to construct and repair infrastructure put people to work and help our communities build climate resiliency with reliable roads, ports, bridges, and buildings. In North Carolina, the Department of Transportation was awarded $110 million to replace the Alligator River Bridge on US Highway 64 with a modern high-rise fixed span bridge.
This seems to be happening behind the scenes, but we should shout this progress from the rooftops. Each month, it is getting better and better. New projects are coming online virtually every day. And this is just in North Carolina. It is happening in all of the states across the United States. In a time when the government is getting bad press, isn’t it time to recognize something going right? It gives us hope for the future.
E.Bronk
Highlands
K. Hawk
Highlands
C. Neely
Scaly Mountain
