MESSAGE FROM THE DIRECTOR
We are happy to see that a deal has been reached to address growing inflation by reducing prescription health care costs, taxing corporations and the ultra-rich, and combatting climate change and reducing energy costs. We call on the United States Senate and House of Representatives to take immediate action to pass this legislation and send it to President Biden’s desk. See below for our analysis of this legislation.
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Thank you for supporting our work,
The Inflation Reduction Act of 2022 — A Major Step Forward for the US and the World
Stephen Herzenberg and Marc Stier | Blog Post | 7/29/22
This legislation, along with the Infrastructure law and the American Rescue Plan, again shows that Democrats are committed to meeting the needs of everyone in the country, no matter where we live or what we look like or whether we are rich and poor, by using the power of the government. Only by acting together can we ensure that we have the roads and bridges and public transit critical to our economy, affordable health care, and clean energy. And only by acting together can we give our children and grandchildren the most important thing we can leave them: a healthy planet. In addition, this legislation is fully paid for by insisting that wealthy corporations pay what they owe for the public goods that are critical to their operations. The Inflation Reduction Act of 2022 does three very important things:
The bill is estimated to bring in $739 billion in revenue and will invest $433 billion to lower health care costs and combat climate change.