Inclusiv Statement on Enactment of the One Big Beautiful Bill Act

The One Big Beautiful Bill Act has been signed into law. It, by all reasonable accounts, stands to deepen the affordability crisis for hardworking low- and moderate-income households across the nation. From stripping health coverage and food assistance from millions of Americans to increasing energy bills and stalling job creation, this legislation threatens to push basic necessities dangerously out of reach for families already struggling to make ends meet.  

The Act includes a performative repeal of the Greenhouse Gas Reduction Fund (GGRF) years into the EPA's implementation of GGRF and rescinds $19 million of funding specifically designated for program oversight, hampering the EPA’s capacity to efficiently manage the program. This move should not have an immediate impact on Inclusiv's grant funds under the Clean Communities Investment Accelerator (CCIA), which were obligated and disbursed in 2024, and have been stayed as a result of pending litigation. The plaintiffs, including Inclusiv, in the litigation filed a letter to this effect with the D.C. Appeals Panel, available here.

Despite the fundamental challenges this Act represents, we were pleased to see credit unions’ tax status preserved and the CDFI Fund’s New Markets Tax Credit program made permanent.  

Inclusiv remains committed to ensuring that every American has the opportunity to achieve financial stability, build wealth, and access affordable clean energy for a safe and resilient home. We will carry on our work to help community development credit unions deepen their impact and deliver economic opportunity and investment where it is needed most.