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FACTS: Inflation Reduction Act

Three things everyone should know about the Inflation Reduction Act:

This week President Biden signed the Inflation Reduction Act – with this law, the American people won and special interests lost. Here are the three things everyone should know:

  • 1. Democrats are lowering health care, prescription drug, and utility costs for working families.

  • 2. Democrats sided with the American people and Republicans sided with special interests. Every single Republican opposed requiring big corporations to pay their fair share, and lowering costs for families.

  • 3. President Biden and Democrats demonstrated that the government can work for working families. Read President Biden’s full op-ed here.

  • Inflation Reduction Act is incredibly popular with voters: Morning Consult / POLITICO polling released this week shows that key provisions of the Inflation Reduction Act including capping prescription drug cost increases, allowing Medicare to negotiate drug prices, and reducing the deficit all receive at least +60 net approval. Navigator Polling released today shows two out of three Americans support the Inflation Reduction Act, and even a majority of Republicans support many of the key provisions of the law. Every congressional Republican sided with special interests to vote against this popular legislation.

President Biden and Democrats rack up win after win:

President Biden and congressional Democrats have beat special interests to deliver a series of game-changing wins for American families including:

  • Inflation Reduction Act to lower prescription drug, health insurance, and energy costs, and fight inflation – all while reducing the federal deficit and finally making big corporations and billionaire tax cheats pay their fair share.

  • CHIPS and Science Act to lower costs, create American jobs, and increase competitiveness with China.

  • PACT Act to ensure veterans get the health care benefits they’ve earned.

  • Safer Communities Act to enact Gun reform for the first time in 30 years.

  • Bipartisan Infrastructure Law to fix our roads and bridges.

  • American Rescue Plan to get us out of the pandemic by creating millions of jobs, funding our vaccination campaign, and reopening our schools.

  • Court Appointments Appointed the first African American woman to the Supreme Court, plus more than 75 federal court judges have been confirmed, more than any president since President John Kennedy, including a record number of women and minorities.

  • Gas prices are falling, now below $4 a gallon on average, and we have one of the best jobs markets in history as unemployment is matching a 50-year low.


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