ICYMI: Inflation Reduction Act Hailed As ‘Major Victory’ on One-Year Anniversary
On August 16, individuals and organizations across the nation celebrated the one-year anniversary of the Inflation Reduction Act, or IRA, being signed into law by President Biden.
In addition to fighting inflation, the IRA included historic investments in clean energy, lowering health care costs, and much more. If you missed how the IRA is already improving lives in states, counties, and cities across the land, here are some highlights:
WHITE HOUSE on the overall impact of the law:
“Just twelve months after the law was signed, it is already having a significant impact on American workers and families, and is delivering for underserved communities and those that have been too often left behind. Outside groups estimate the Inflation Reduction Act’s clean energy and climate provisions have created more than 170,000 clean energy jobs already, companies have announced over $110 billion in clean energy manufacturing investments in the last year alone, the law is delivering billions of dollars to protect communities from the impacts of climate change, and millions of seniors are saving money because their insulin is capped at $35 per month.”
- White House Fact Sheet
DEBBIE COX BULTAN on how the IRA is a ‘major victory’ for state and local governments:
“Lauded as the most significant investment America has ever made in clean energy, IRA has proven to be a major victory for states and localities, with communities across the nation already reaping economic and environmental benefits. President Biden promised to grow the country’s economy from the bottom up and the middle out. And the investments spurred by the Inflation Reduction Act are doing exactly that.”
- Debbie Cox Bultan, CEO of NewDEAL
PATRICK GASPARD on the IRA’s healthcare implications:
“The Inflation Reduction Act is the most consequential healthcare law in more than a decade, the most significant economic legislation in a generation, and the most impactful climate change bill ever.”
- Patrick Gaspard, president and CEO of the Center for American Progress
MARY SAGATELOVA on the climate impact of the IRA:
“As the single largest federal investment in climate action, the IRA is an unapologetically capitalist approach that is turbocharging clean energy innovation, reigniting American manufacturing, cutting costs for families, and creating new, good-paying jobs. Perhaps most importantly, it is also providing US leadership in the global clean energy transition.”
- Mary Sagatelova, Communications and Content Advisor of Third Way
LESLIE DACH on healthcare benefits of the IRA:
“The Inflation Reduction Act is already allowing families to sleep easier at night knowing they can go to the doctor without worrying about how they’re going to put food on the table or pay rent. Seniors can get necessary vaccines for free and insulin at a reasonable cost. Critically, Medicare will soon be able to negotiate for lower drug prices — a long-fought battle to help seniors and taxpayers alike. We must continue to work as President Biden and Democrats are only paving the way for more victories in the fight to make health care a right for every American.”
- Leslie Dach, Chair of Protect Our Care
LEVAR STONEY on the economic impact of the IRA:
“The Inflation Reduction Act is uplifting middle-class families by lowering health insurance and prescription drug costs while creating good-paying jobs and reducing the deficit. This law makes the largest investment in climate action in history and will help create a more sustainable future for decades to come.”
- Levar Stoney, Mayor of Richmond, President of the Democratic Mayors Association, and NewDEAL Leader
KATE GALLEGO on the IRA’s benefits for Phoenix:
“It’s been amazing to see how much Phoenix has benefited from the Inflation Reduction Act. It has helped us shore up our water supply. We are also seeing so many jobs, particularly in electric vehicles and solar energy, with manufacturing happening right here in Phoenix. And people are getting great high-wage career paths. Our residents are also so excited about being able to reduce those energy bills, whether it is solar on your roof or getting a more efficient air conditioner or heat pump.”
- Kate Gallego, Mayor of Phoenix and NewDEAL Leader
ANDY SCHOR on the manufacturing benefits of the IRA:
“This historic act will create manufacturing jobs for Michigan workers, tackle the climate crisis and strengthen energy security, lower energy costs for households and businesses, and deliver a clean, secure, and healthy future for our children. I was proud to mark the anniversary by highlighting the jobs and manufacturing growth we are already seeing right here in the Lansing area.”
- Andy Schor, Mayor of Lansing and NewDEAL Leader
CHRIS COONS on the healthcare impact of the IRA:
“Since the Inflation Reduction Act was signed a year ago, thousands of Delawareans have saved an average of $533 on their health insurance. This landmark law is making quality, affordable health care available for more Americans.”
- Chris Coons, U.S. Senator and NewDEAL Honorary Co-Chair
