The Federal Government has begun implementing the $550 billion dollar Infrastructure Investment and Jobs Act and the $783 billion dollar Inflation Reduction Act. These enormous investments present an incredible opportunity for Pennsylvania to upgrade our infrastructure, accelerate energy production, and create family-sustaining jobs.
States as diverse as South Carolina, Colorado, Michigan, and Maine have prepared for this moment by creating publicly run entities that seize federal funds, attract private investment, and finance and initiate clean energy infrastructure projects. Fortunately, Pennsylvania already has a public financing authority — the Pennsylvania Energy Development Authority (PEDA) — that is well-suited to play this role.
Because PEDA was created in 1982, its enabling legislation needs modernization: the statute, as written, does not provide PEDA with the clarity of purpose to maximize its potential role as an energy accelerator and job creator.
However, a few changes to the administrative code could ensure that PEDA has the resources and mission to seize federal dollars and encourage private investment so that Pennsylvania can turbocharge energy production and create family-sustaining jobs in communities across Commonwealth.
This legislation would create the framework for Pennsylvania to do big things. We can:
- JUMP-START ENERGY PRODUCTION: We can safeguard and magnify Pennsylvania’s position as a national energy leader.
- CREATE GOOD JOBS: Our labor unions and workforce programs can work together to train our citizens for the local, family-sustaining jobs of the future.
- SECURE ENERGY INDEPENDENCE: By using federal funds to invest in energy production now, we protect taxpayers from rising energy prices and from fluctuations due to turmoil abroad.
- BRING BACK FEDERAL MONEY: Pennsylvanians’ tax dollars are sitting in DC right now waiting to be invested. We can bring that money back and create jobs here, so our dollars, jobs, and people don’t go to other states.
Statutes/Laws affected: Printer's No. 3171: P.L.177, No.175
Printer's No. 3302: P.L.177, No.175