August 12, 2022

Congressman Schiff on House Passage of Inflation Reduction Act

“With the passage of the Inflation Reduction Act, Democrats have, once again, delivered for working families and future generations. In just a matter of weeks, Democrats in Congress have given American manufacturing a major boost, provided a substantial expansion of benefits for veterans, and enacted the first bipartisan gun safety bill in a generation – and today, we’ve passed a landmark climate, health care, and tax bill that will help families pay their bills even as we help save the planet.

“The Inflation Reduction Act represents a historic down payment on not just our nation’s deficit, but also on our economic health, our health care infrastructure, our energy security, and our fight against the climate crisis – all made financially possible and sound by making the largest corporations and the ultra-wealthy pay their fair share. Economic experts agree this critical deficit reduction, combined with lowering costs for prescription drugs, health care, and energy, will help bring down inflation and bring people relief.

“This is an extraordinary victory for our economy, our planet, and our people – and we must keep the momentum going. Democrats remain laser-focused on our agenda of lowering costs, creating better-paying jobs, and making our communities safer, and there is still much left to accomplish. I look forward to working with my colleagues these next few months on other bold solutions to our challenges today, and bold investments in our future.”