IRA

Through its $400 billion in loan authority mandated from the Bipartisan Infrastructure Law and Inflation Reduction Act, the Department of Energy's Loan Programs Office (LPO) is playing a pivotal role in onshoring and commercializing clean energy technology in America. The LPO's commitment to financing innovative projects, reducing emissions, and fostering economic growth has led to $17 billion in loans committed in 2023 and $175 billion in loans requested overall. The conditional commitments and emphasis on private sector collaboration demonstrate a forward-thinking approach where public funds are multiplied by private sector investment to achieve goals around domestic clean energy production and decarbonization. It's heartening to see the LPO's dedication to community benefits and job creation as a part of an inclusive growth strategy for our country. We should look forward to witnessing the LPO's continued impact in 2024 and beyond, as it plays a crucial role in shaping a clean, secure, and more prosperous America.

Urban leaders were gathered on October 18-20 for Bloomberg CityLab, a summit focused on a range of issues, from rapid urbanization to housing affordability. On the final day of the conference, Pete Buttigieg, the United States Secretary of Transportation, spoke about Vision Zero, the idea that the U.S. might hopefully, one day, see zero road deaths; he also spoke of the essential place of local communities as stewards of the Bipartisan Infrastructure Bill, and his positive outlook on how we can move past this difficult decade by delivering on the explicit promises being made by our leaders today.