Amalgamated Bank Statement on the Inflation Reduction Act

“Amalgamated Bank stands in strong support of the Inflation Reduction Act.  The proposal under consideration will provide important and long-term relief to rising costs of living, move us forward on achieving a safe climate and bring more equity to the tax code.

“As a socially responsible bank with specific and science-based targets for reaching net zero portfolio emissions, this policy action is essential as a starting point for building a cleaner, safer and more just economy. Passage of the Inflation Reduction Act will spur private sector investments into critical national needs and bring lower costs and greater resilience to our energy sector. This legislation will not get us all the way to achieving the nation’s climate targets, but provides an important foundation for further action from the private sector and policy makers from City Hall to the federal government.

“We appreciate the leadership of Senator Schumer and President Biden and encourage all members of the House and Senate to expeditiously move forward on this important legislation.”