Press Release

August 02, 2022

Inflation Reduction Act Will Boost Rural Energy, Economy

Passage would invest $2 billion in popular Rural Energy for America Program

Through a $2 billion investment in the popular Rural Energy for America Program (REAP), the Inflation Reduction Act of 2022 would create good, local jobs and business opportunities while helping rural areas fight climate change.

“Climate change impacts are both expensive and inflationary. Doing nothing about climate change invites tremendous financial and human costs,” said ELPC Senior Policy Advocate Andy Olsen.

REAP is a popular program with a long history of bipartisan support. It is historically oversubscribed, so this investment would allow more farmers, ranchers and rural small businesses access to REAP’s competitive grants and loan guarantees.

“The Inflation Reduction Act invests in America’s rural communities to fight climate change while boosting rural economies,” Olsen said. “The $2 billion investment in the Rural Energy for America Program creates opportunities for farmers, ranchers and other rural small businesses to participate in the clean energy economy. They strengthen their bottom lines while slowing manmade climate change.”

ELPC has long served as a REAP advocate, working with a coalition of nearly 200 stakeholders to support REAP funding in a Reconciliation package and testifying before Congress on REAP’s value.

“REAP is just one of the preventive strategies in the IRA,” Olsen said. “We’re grateful that Agriculture Committee Chair Debbie Stabenow and others have seen the value of REAP and similar programs, both for the health of the rural economy and for the health of the planet.”