Neal Celebrates First Anniversary of the Inflation Reduction Act
Springfield, MA, August 16, 2023
Ways and Means Committee Ranking Member Richard E. Neal (D-MA) released the following statement lauding the first anniversary of the Inflation Reduction Act:
“With the Inflation Reduction Act, Democrats set our nation on a healthier, fairer, and more prosperous path. We lowered energy and health costs, unleashed a clean energy boom, and already created over 170,000 good-paying jobs. This first anniversary serves as a powerful reminder of what Democrats could achieve for the American people with a tight majority and goes to show, that where there’s a will there’s a way.
“From capping the cost of insulin for seniors to unlocking a new era of service at the IRS or spurring the single largest federal investment in climate action, the IRA is chock full of wins for the American people. Ways and Means Democrats proudly led on so much of this landmark law—saving families an average of $2400 on their health premiums, allowing Medicare to negotiate drug prices for the first time, and driving historic manufacturing and energy investments—and responsibly funded it by holding the wealthiest corporations accountable for their fair share.
“Success abounds, yet instead of furthering the better service, lower costs, or greener planet for the American people, Republicans want to go backward. Time and again, they’ve attempted to repeal our landmark success and made it clear that chaos, conspiracies, and cuts are all they can muster. That’s why the American people count on us to invest in workers and their families and grow the economy from the bottom up and middle out.
“The promise of the Inflation Reduction Act shines bright after its first year and is only getting brighter.”