WASHINGTON, D.C. — Today, U.S. Senator Tina Smith (D-Minn.) released the following statement celebrating the passage of the historic Inflation Reduction Act of 2022:
“This is a historic bill that meets the moment. It fights inflation and reduces the federal deficit. It’s takes on the climate emergency, creates a clean energy future and spurs domestic clean energy production. It lowers prescription drug costs, and makes health care more affordable for millions of families. And, it requires big corporations making a billion or more in profits to finally pay their fair share in taxes.
“Make no mistake: This legislation represents the most significant action we have ever taken to fight the climate crisis. It will lead to a 40% reduction in emissions by 2030, lower energy costs, and spur the economy by creating millions of union jobs in manufacturing and clean energy.
The Inflation Reduction Act is a big deal. It has the broad support of Americans. And Senate Democrats got it done – without the help of a single Republican in the Senate.”