One year ago, I signed the Inflation Reduction Act into law -- one of the most significant laws in recent history.

This pivotal piece of legislation will continue to help grow the economy from the bottom up and middle out by:

• Lowering costs for working families by including crucial provisions that lower consumer electricity bills, cap insulin costs at $35 a month and cap out-of-pocket drug costs at $2,000 for seniors on Medicare. It also allows Medicare to meaningfully negotiate drug prices, with the number of drugs covered steadily increasing.

• Spurring job creation and economic opportunity. Thanks to this legislation, American manufacturing is back -- in fact, manufacturing construction doubled in the last year thanks to investments in clean energy. We’re securing good-paying jobs in our own communities so that hardworking families across the country have the opportunities they deserve to get ahead.

• Taking our most aggressive action ever in confronting the climate crisis and strengthening our country’s energy security by putting America on a path to reduce emissions. The law also offers working families thousands of dollars in savings by providing rebates for more efficient appliances and weatherizing homes, and tax credits for heat pumps and rooftop solar which can help get us to 80% clean energy by 2030.

• The law makes the wealthy pay their fair share by cracking down on tax evasion, and requiring large corporations to pay at least a 15% minimum tax, raising nearly $300 billion over a decade to invest back into our communities.

My dad used to say everybody needs a little bit of breathing room -- just enough so that, at the end of the month, you can pay your bills and be certain your family is going to be okay. This bill is giving folks across the country exactly that: a little more breathing room.

With this law, the American people won, and special interests lost.

The Inflation Reduction Act offered proof that the soul of America is vibrant, the future of America is bright, and the promise of America is real.

I’ve never had more hope in the promise of America. But our work will not be completed until we make the promise of this country real for everybody -- no matter their race, their identity, their ethnicity, or their faith.

That’s why Kamala and I are running for reelection -- and why I’m asking for your support today. Will you make a $25 donation to our campaign so we can continue investing in America?

Thank you for being a part of this grassroots team,

Joe

Joe Biden