Today, the U.S. Senate passed the Inflation Reduction Act, which will reduce energy, health care, and prescription drug costs for American families and make the biggest investment to fight climate change in our nation’s history.
These critical investments will be fully paid for by raising revenue from the wealthy and corporations—ultimately making our tax system fairer and stronger. And this legislation reduces the deficit, meaning it will put downward pressure on inflation. More than 100 economists agree.
The Inflation Reduction Act takes a significant step toward addressing some of our most pressing challenges. We recognize that more remains to be done, and we will continue to fight for necessary reforms to build an economy that lifts up everyone.