The cost of living is expected to rise to its highest level in more than a decade this winter. So, governments around the world are looking at ways to ease the pressure on those struggling.
Vice President Kamala Harris announces an incredible $13 billion assistance package to help cut winter energy costs for Americans.
The rising cost of living is forcing many families to make the tough decision between heating and eating. So, governments are stepping in to see how they can help in this crisis.
The financial aid offered by Harris and the Biden administration will help thousands of families lower their energy bills moving into winter.
What the package includes ‒ lowering the cost of living
Kamala Harris announced the $13 billion assistance for winter energy costs during a visit to Boston on Wednesday. During her time in the city, Harris paid a visit to Union Hall and a sheet metal workers’ training facility.
The United States Department of Health and Human Services (HHS) will offer $4.5 billion in funding as part of a Low Income Home Energy Assistance Program to help cover energy bills and energy-related home repairs for low-income families.
The Biden administration also announced $9 billion in support to help low- and moderate-income families. This funding will help families lower their energy costs by making energy-efficient upgrades to their homes.
Providing some much-needed support ‒ combatting the cost of living crisis
The White House issued an official statement on Wednesday morning about Harris’ plans to announce $13 billion in assistance to help with winter energy costs.
Looking towards the future and the prospects of rising gas and oil prices in the long term, the statement highlighted the importance of putting measures in place to make this funding much longer lasting.
It stated, “The Vice President will underscore how the Administration is continuing to cut energy costs for families ahead of winter.
And, the Vice President will highlight how President Biden’s economic plan will help households afford energy-efficient equipment when they need to make home repairs, so they can save money on their utility bills for years to come.”
Steps being put in place ‒ helping Americans lower their energy costs
Alongside the $13 billion assistance for winter energy costs announced by Harris yesterday, various steps are being put in place.
One of these measures is a push towards the manufacture of heat pumps to drive energy efficiency. The White House statement reads, “Heat pumps are highly efficient technology that can heat and cool homes and buildings using just half or a third of the energy used by traditional heating systems.”
Because of this lower energy usage, heat pumps are a much more cost-effective alternative to the current sources of home heating.
The Administration also promises to support good-paying jobs and mobilise community financing. They are also keen to catalyse private sector action to encourage public education on the energy-saving opportunities available.