WASHINGTON, D.C. [09/13/22] — Today, U.S. Senator Tina Smith (D-Minn.) released the following statement marking today’s celebration of the historic Inflation Reduction Act:
“Today we are celebrating a historic bill that is already meeting the moment. In the month since Senate Democrats – without the help of a single Republican – passed the Inflation Reduction Act, the landmark legislation has created new investments, new jobs, and new opportunities for Americans.
“It will reduce costs for American families by lowering prescription drug prices and making health care more affordable. It will unleash a new generation of American manufacturing that will help us build and deploy clean energy technology, spur domestic energy production, and tackle the climate emergency. It will help fight inflation and reduce the federal deficit. And it requires big corporations making a billion or more in profits to finally pay more of their fair share in taxes.
“And we are also celebrating the most significant piece of climate legislation ever to pass the U.S. Congress that will lead to a 40 percent reduction in emissions by 2030. For the very first time, we have passed a climate bill that actually meets the scale of the problems we face.
“Democrats took on big Pharma, entrenched oil interests, and Wall Street – and won.”