ALBANY, N.Y. (NEXSTAR) — New York depends on nearly $2 billion from the Inflation Reduction Act to improve clean energy, reduce pollution, and lower energy bills. But in a new report, State Comptroller Thomas DiNapoli warned that cuts might raise energy costs and force delays in vital projects coming up.
“The possible policy changes in Washington could lead to delays or cuts to the remaining IRA funds and tax credits,” DiNapoli said. “Given the strong interest in improving affordability for consumers, small businesses, farmers, and nonprofits, preserving the IRA’s grant and tax credit programs should be a priority.”
According to Dinapoli’s report, of the $1.979 million federal funds at issue—meant for environmental, energy, and transportation projects throughout the Empire State—over $1.3 billion comes in the form of grants to state agencies. That funding supports home energy improvements and greener transit, with perhaps the largest portion—$250 million—for NYSERDA’s Solar for All program .
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As accounted for by the Comptroller’s Office, municipalities were awarded over $365 million for projects that, for example, redo poorly designed roads that separate communities or pollute neighborhoods. From parks projects in New York City to traffic infrastructure repairs in Buffalo, local leaders are already counting on this money…