This new bill shows that Congress understands we urgently need economic solutions that offer real help for working families. Taking these steps to lower health care costs and address our broken tax code that has allowed the extremely wealthy and the biggest corporations to avoid paying their fair share will deliver fundamental economic change in our nation.
The energy provisions will leverage more than $1 trillion in private investment, create millions of jobs and cut climate pollution by 40%. And, importantly, the tax incentives as currently written include labor standards and domestic content requirements, which would create good-paying jobs in construction and manufacturing. These actions will spur the clean-energy transition we need to address the climate crisis, make clean energy more accessible and affordable, and direct investments to underserved communities.
The Inflation Reduction Act provides real solutions to rising energy and health care costs that won’t be solved by further interest rate increases, which will put us at risk of a serious recession. It also will improve the lives of working people, seniors trying to pay for their prescriptions and children who will have the chance to live on a healthier planet. We urge Congress to move quickly to get this passed and signed into law.
At the same time, we need to keep working to deliver further relief that working people need: a bolstered right to organize and help accessing critical supports like child care and affordable housing. This bill represents an incredible step forward, and we will keep fighting to make more progress for the people who power our economy.