Biden Unveils $7.3 Billion Investment In Rural America’s Electricity

President Joe Biden announced a $7.3 billion investment in clean and affordable electricity for rural American communities, funded by the Inflation Reduction Act. This investment is the largest in rural electrification since the New Deal and part of Biden's Investing in America agenda. The U.S. Department of Agriculture's Empowering Rural America (New ERA) program will provide financing to 16 rural electric cooperatives, benefiting approximately 5 million rural co-op members across 23 states. These cooperatives will build or purchase over 10 gigawatts of clean energy. National Rural Electric Cooperative Association CEO Jim Matheson praised the New ERA program for allowing electric co-ops to take a tailored approach to respond to local needs. The program could boost Vice President Kamala Harris's chances in battleground states during the upcoming elections.