“Biden's climate and environmental justice proposal will make a federal investment of $1.7 trillion over the next ten years, leveraging additional private sector and state and local investments to total to more than $5 trillion.”
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The 2019 plan promised $1.7 trillion in federal climate and environmental justice investment over ten years. The enacted result, the Inflation Reduction Act (Public Law 117-169, signed Aug. 16, 2022), contained the largest federal climate investment in U.S. history - roughly $375 billion over a decade per contemporaneous reporting - which is well below the promised $1.7 trillion. Biden delivered an unprecedented but substantially smaller federal climate investment than pledged.
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