The Inflation Reduction Act is a major win for Pennsylvania families

Earlier this month, Senate Democrats capped off a historically productive legislative session with one of the most significant pieces of legislation in modern American history: The Inflation Reduction Act. On Friday, House Democrats passed the bill, sending it to President Biden’s desk to be signed into law.

THE INFLATION REDUCTION ACT: LOWERS PRESCRIPTION DRUG COSTS: Medicare will have the authority to negotiate prescription drug prices; Caps out-of-pocket costs for Medicare recipients at $2,000 a year; EXTENDS ACA HEALTH CARE TAX CREDITS THROUGH 2025: Extends the enhanced premium tax credits created through the American Rescue Plan; Estimated monthly savings for a family of four with a household income of $75,000: $248; PUTS THE UNITED STATES ON TRACK FOR CLIMATE GOALS: Hundreds of billions of dol

The Inflation Reduction Act will improve lives across the Commonwealth and the Nation. In addition to lowering costs for families who have been squeezed by inflation, this bill may be our last chance to act on the climate crisis before it’s too late. And we’re going to create new, high-paying American manufacturing jobs in clean energy to do it. It’s also a fiscally responsible bill that will bring down our national debt by ensuring the most profitable corporations start paying their fair share, just as American families have been doing all along.

I am proud of all that this Congress has so far accomplished. We’ve made transformational investments in the U.S. economy and American workers. Between the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and now the Inflation Reduction Act, we have passed legislation that will boost the economy and create jobs in our infrastructure, supply chain, domestic manufacturing and clean energy sectors.

I look forward to building on these successes and continuing to deliver results for Pennsylvania.



Representing the Commonwealth of Pennsylvania

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