What the Inflation Reduction Act Would Do
The new reconciliation agreement is a big deal.
Announced yesterday by Senate Democrats, the Inflation Reduction Act would make historic investments and structural interventions to stem rising prices—strengthening the supply of clean energy, curbing drug prices, and taxing those with the most ability to pay.
“This agreement shows the emergence of a new common sense: Public investment can reduce carbon emissions, drive economic growth, and make essential goods more affordable for Americans,” said Roosevelt President and CEO Felicia Wong.
“It addresses short-term price increases, especially on prescription drugs, by using the power of federal negotiation to curb the market power of pharmaceutical companies. And it makes long-term investments in the industries of the future, especially clean energy.”
Read Roosevelt’s statement on the Inflation Reduction Act.
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