BOSTON (WBZ NewsRadio) — With the Senate passing the Inflation Reduction Act on Sunday, Massachusetts Senator Ed Markey is celebrating the legislation and its clean energy provisions.
According to the Senate, the Inflation Reduction Act enacts a total deficit reduction to reduce inflation, lowers energy costs, increases cleaner production, and aims to cut down carbon emissions by around 40 percent by 2030.
"This is a historic piece of legislation; it is the funding we need for the health of the planet and the funding we need for the health of families. This bill is going to move us from a dirty economy to a clean economy," Markey said.
The former Mayor of Somerville and current President of Northeast Clean Energy Council Joseph Curtatone says he envisions something different for Massachusetts.
"Massachusetts is like Texas before the oil boom when it comes to these renewable sources and we have an entire climate economy that's ready to kick into high gear," Curtatone said.
Fossil fuel companies say the legislation could cost consumers, an assertion that Markey disagrees with.
"The crocodile tears of the natural gas industry doesn't actually extend to all of the export terminals for natural gas in our country that they want to construct to send natural gas from the United States overseas, and all experts say that that leads to a 20 to 25 percent increase in the natural gas price," Markey said.
The bill will also "allow Medicare to negotiate for prescription drug prices and extended the Affordable Care Act program for three years, through 2025."
WBZ's Karyn Regal (@Karynregal) reports.