Nancy Pelosi and Jimmy Gomez tout climate benefits of Cut Inflation Act at nonprofit Los Angeles – Daily News
California is poised to lead a nationwide reduction in carbon emissions and the transition to a green technology future through the Cut Inflation Act policies and investments, House Speaker Nancy Pelosi said. during a visit to Los Angeles on Thursday, August 25.
House Democrats passed the Cut Inflation Act on August 12 and with it secured the biggest ever investment in the fight against climate change – with around $370 billion earmarked for promotion green technologies and reducing carbon emissions nationwide.
These investments, the White House said, “will put the United States on a path to an approximately 40% reduction in emissions by 2030, and would represent by far the largest climate investment in US history. United”.
In California, the bill allocates investments in climate-friendly manufacturing, promotes the creation of commercially viable green energy technologies and offers residents rebates for upgrading to electric appliances or switching to electric vehicles .
And in the spirit of celebrating those investments, Pelosi and Rep. Jimmy Gomez (D-Los Angeles) visited the Los Angeles Cleantech Incubator (LACI) — a nonprofit that helps clean energy startups commercialize their products and technologies.
“You can have great ideas – if you do, you have to be able to sell it,” Pelosi said. “To do that, you have to recognize what the market is, and I think LACI is a great example of knowing (that).”
Among other things, LACI is focusing much of its entrepreneurial efforts in Los Angeles on improving access to electric vehicles for everyone.
One of LACI’s startups, Evolectric, is converting gas-powered vehicles into electric vehicles and putting them back on the streets. This process, according to its co-founder Jackson Alvarez, who spoke at the event, is crucial to meeting carbon reduction goals.
“Relying solely on brand new solutions will not be enough to achieve our goals,” Alvarez said.
The Cut Inflation Act, for its part, will make electric vehicles more accessible to low-income Californians – offering rebates of up to $7,500 and $4,000 for new and used electric vehicles. , respectively.
And the law will provide rebates or tax credits to residents who make upgrades to their appliances in the interest of energy efficiency. These include 50-100% rebates for new electrical appliances and up to 30% tax credits for solar panel installations, according to the White House.
“It’s a truly remarkable piece of legislation that we’ve signed into law,” Gomez said at the event. “It will help us in this transition to the green economy – and to the jobs of the future.”