Washington, D.C.– The Coalition for Green Capital issued the following statement after the House of Representatives passed the Build Back Better Act:
“We applaud the House passage of the Build Back Better Act, which includes the Greenhouse Gas Reduction Fund that is meant to fund a national green bank,” said Reed Hundt, CEO of the Coalition for Green Capital. “We thank Congresswoman Debbie Dingell and Chairmen Frank Pallone and John Yarmuth for their support, leadership, and vision over the many years culminating in today’s historic vote.”
President Biden included the Clean Energy and Sustainability Accelerator, a national green bank that would inject funding into state green banks, as a key climate provision in the American Jobs Plan. The House passed the Accelerator as part of the INVEST in America Act (H.R. 3684), marking the third time it passed with bipartisan support. Republicans voting in favor of the Accelerator include Congressmembers Don Bacon (NE-2), Brian Fitzpatrick (PA-1), Jeff Fortenberry (NE-1), John Katko (NY-24), Christopher Smith (NJ-4), Jefferson Van Drew (NJ-2), and Don Young (AK).
In a July letter to congressional leaders urging action on climate infrastructure, over 140 mayors called for the creation of a national green bank. Earlier this month, 10 governors on the front lines of the climate crisis called on Congress to pass the Clean Energy and Sustainability Accelerator, because doing so would be one of “the most impactful actions to protect our climate” and environmental groups echoed that message.