The Inflation Reduction Act
The Inflation Reduction Act is an enormously consequential bill that will lower the cost of living for America’s families. The legislation reduces the price of prescription drugs, health care, and energy for Americans — all while fighting inflation and reducing the deficit. It makes the largest investment in U.S. history to combat the climate crisis, and will increase American energy security, create good-paying jobs, and position the United States to be a world leader in clean energy.
The legislation will make our tax system more fair by ensuring big corporations and the wealthy start paying their fair share and stop getting away with cheating the system. And it does not raise taxes on middle-income families or small businesses. The Inflation Reduction Act is fiscally responsible and fully paid for. It will increase financial security for American families, take on some of today’s most pressing challenges, and expand opportunities for Americans to succeed.
See the impact of the Inflation Reduction Act in your state.
Lowers Costs for Families
Expands affordable health care coverage to millions of Americans.
Caps the price of insulin at $35 per month for Medicare beneficiaries.
Caps out-of-pocket drug costs for Medicare beneficiaries.
Institutes a new “inflation rebate” under Medicare.
Lowers energy costs for families for the long-term.
Makes Historic Investments to Tackle the Climate Crisis
Extends and expands clean energy tax credits and creates clean jobs.
Reduces carbon pollution by 40 percent by 2030.
Protects our climate and Americans’ pockets.
Accelerates the clean energy transition.
Advances climate justice.
Ensures Fiscal Responsibility & Tax Fairness
Ensures large, profitable corporations pay their fair share so we can make historic investments in American families and our economic future.
Ensures the wealthy pay the taxes they owe by strengthening the IRS’s ability to enforce current tax laws.
House Democrats Explain The Inflation Reduction Act