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New Study Reveals Cut Inflation Act Will Create 9 Million Jobs Over 10 Years

WASHINGTON, DC, Aug. 05, 2022 (GLOBE NEWSWIRE) — The Political Economy Research Institute (PERI) at the University of Massachusetts Amherst has released a new study, commissioned by the BlueGreen Alliance, revealing the job-creating potential of more than 100 climate, energy and environmental programs included in the Cut Inflation Act. The BlueGreen Alliance has organized the new data into a micrositehighlighting the job creation potential in six policy areas and exploring the impact of selected investments.

“PERI’s new analysis confirms that this landmark bill will not only support a livable climate, cleaner air and fairer economy, but will also create more than 9 million jobs across the country over the next decade” , said Jason, Executive Director of BlueGreen Alliance. Walch. “Few pieces of legislation this century have come close to such job-creating potential. The investments in this bill provide an opportunity to support and create good union jobs and for workers and communities to reap the economic gains of the clean economy. »

The job creation estimates include the jobs that will be created by both the public investments in the Cut Inflation Act and the private investments that the bill will stimulate. The analysis examines the direct jobs created as a direct result of the investments. It also includes indirect jobs – created elsewhere in the supply chain due to increased business demand for materials and services – and induced jobs, which are created due to increased spending by workers who benefit from direct and indirect jobs.

PERI analysis finds climate and energy investments from the Cut Inflation Act will create more than 9 million jobs over the next decade. Including:

  • Nearly 5 million jobs over a decade thanks to investments in clean energy;

  • More than 900,000 jobs over a decade through programs to create clean manufacturing supply chains;

  • More than 400,000 jobs over a decade thanks to investments in electric vehicles and clean transport;

  • Over 900,000 jobs over a decade through programs to make our homes and offices more energy efficient;

  • 150,000 jobs over a decade through investments in environmental justice and climate resilience; and

  • More than 600,000 jobs over a decade thanks to investments in our natural infrastructure.

The fact sheet notes that with strong enforcement of labor standards and targeted investments included in the Curbing Inflation Act, many of these jobs will provide workers with good wages and benefits and will be targeted to areas that need it most. Additional targeted investments and fair hiring practices could be used to prioritize employment access for low-income workers, workers of color, and workers from the environmental justice, deindustrialization, and community communities. of the energy transition.

“We have long called for congressional action that will address the joint crises of climate change, income inequality and racial injustice,” Walsh said. “Now it’s time to cross the finish line.”

CONTACT: Justin Jackson BlueGreen Alliance (951) 214-9108 jjackson@bluegreenalliance.org

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