God promises to restore Israel and make a new covenant. This covenant will differ from the first. Instead of a law written on tablets, God will make this covenant with a people whose hearts have been inscribed with God’s statutes. Also, this new covenant will mean more widespread knowledge of God’s character.
God promises that this new covenant will secure the fate of “the offspring of Israel” (Jeremiah 31:36). In the book of Hebrews, these new covenant promises are plainly connected to the sufficiency of Jesus’ atoning sacrifice. In Hebrews, we are told that Jesus’ work to bring this new covenant exists because “by one sacrifice he has made perfect forever those who are being made holy” (Hebrews 10:14). Notice how that works: Jesus has already made perfect those whom Jesus is still in the process of making holy. The sacrifice Jesus made at Calvary has the power to inaugurate a new covenant, make us perfect, and yet in ongoing and renewing fashion, make us holy.
Just as we cannot measure the heavens above (Jeremiah 31:37), we cannot measure the breadth and value of Jesus’ death for our rescue. Though we can never exhaust investigation or explanation of Jesus’ death, we can say with thanksgiving that our sins and iniquities will be remembered no more (Jeremiah 31:34).