Statement from President Biden on Inflation Reduction Act

The White House

Tonight, we’ve taken another critical step toward reducing inflation and the cost of living for America’s families. The Inflation Reduction Act will help Americans save money on prescription drugs, health premiums, and much more. It will make our tax system more fair by making corporations pay a minimum tax. It will not raise taxes on those making less than $400,000, and it will reduce the deficit. It also makes the largest investment in history in combatting climate change and increasing energy security, creating jobs here in the US and saving people money on their energy costs. I look forward to the Senate taking up this legislation and passing it as soon as possible

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