WASHINGTON, D.C. - U.S. Senator Martin Heinrich (D-N.M.) released the following statement commending President Joe Biden for signing the Inflation Reduction Act into law. The historic legislation, which passed out of the Senate and the House, will fight inflation, lower prescription drug and health care costs, make the greatest investments in American history in domestic clean energy production and manufacturing, and reduce the nation’s climate warming carbon emissions.
“The Inflation Reduction Act is a monumental achievement. This new law that President Biden just signed will tackle the pressing challenges that families are facing today and make game changing investments to build a stronger future for our kids. It will help us fight inflation, lower health care and prescription drug costs, and finally make the tax code fairer so it will no longer be rigged in favor of corporations and the ultra-rich.
“Taken as a whole, this new law is also the single greatest action that we have ever taken to change the trajectory of the climate crisis. The investments, incentives, and consumer rebates will move the needle on climate further than ever before by accelerating the widespread deployment of reliable, affordable, and pollution-free power generation and supercharge American manufacturing base for emerging clean and electric technologies—from air-source heat pumps and wind turbines to batteries, solar components, and electric vehicles.
“I will forever be grateful to all of the Americans who made this day possible—from the seniors and health care advocates who have called for these prescription drug reforms to the young people and climate activists whose persistence and dedication fueled our determination to pass concrete actions at the scale to save their future on this planet.”