August 16th, 2022
FOR IMMEDIATE RELEASE
Contact: Katie Sexton-Wood
katie.sexton@azfaithnetwork.org
(623) 237-2279

Arizona Faith Network Applauds Inflation Reduction Act Signed by President Biden

(Phoenix, AZ) Today, President Biden signed the Inflation Reduction Act into law, legislation that would invest hundreds of billions of dollars to combat climate change and advance clean energy programs. It is the most aggressive climate investment ever taken by Congress.

The bill includes the first meaningful reforms to the nation’s oil and gas leasing system in a hundred years. This is a turning point in America’s energy and climate policy. Through increasing on-shore royalty rates and ending the practice of non-competitive leasing, taxpayers will get a fairer return during the transition to a clean energy economy and Arizonans will stop subsidizing the oil and gas corporations that are reporting record profits.

“As people of faith, we are spiritually mandated to protect our climate. Today, in signing the Inflation Reduction Act, President Biden took a strong first step that will help us serve as better stewards of God's Creation,” said Reverend Katie Sexton-Wood, executive director of Arizona Faith Network. “We are grateful to Senators Sinema and Kelly and Representatives Grijalva, Gallego, Kirkpatrick, O’Halleran, and Stanton, for all they did to ensure this historic climate victory.”

Combating climate change nationwide can help alleviate its devastating impacts on Arizona, like our lengthened wildfire season and worsening floods. The bill’s climate provisions would slash the country’s carbon emissions by roughly 40% by 2030, according to a summary of the deal.

“We are also driven toward justice,” Rev. Sexton-Wood continued, “and applaud the bill’s reforms that create more fairness in our society. For too long, oil and gas companies have been allowed to exploit our public lands with little to no oversight, polluting our environment and cheating local communities out of a fair return.”