Congressman Al Green Attends White House Reception to Celebrate Passage of Inflation Reduction Act

(Washington, D.C.) – On Tuesday, September 13, 2022, Congressman Al Green released the following statement:

“President Biden has done an exceptional job of leading our nation through a series of unique, unprecedented challenges including a pandemic, supply chain shortages, and record-high inflation. I am grateful for his leadership during these trying times and could not have been more pleased to join him today to mark the passage of H.R. 5376 – The Inflation Reduction Act (IRA). Under President Biden’s IRA, millions of Americans will benefit from reduced healthcare costs, as well as clean energy costs.”

“The IRA reduces rising costs for consumers by capping annual prescription drug prices to $2,000 and limiting the monthly price of insulin to $35 for Medicare beneficiaries. It allows Medicare to negotiate prescription drug prices with pharmaceutical companies, as well as lowers health insurance premiums and expands coverage for those enrolled in the Affordable Care Act marketplace plans.”

“Additionally, the IRA alleviates rising costs for consumers by providing a tax credit of up to $7,500 for the purchase of new electric vehicles and of up to $4,000 for used electric vehicles. The bill also provides a 30% tax credit to families who install solar panels in their homes and, crucially, does not increase taxes at all for families with an annual income of $400,000 or less.”

“I will continue supporting President Biden’s efforts to build back a better, stronger America and provide relief for millions of families. It was an honor to stand alongside him today with many of my colleagues who did all they could to help see this bill through. I am proud of what we’ve accomplished together and look forward to doing more. May God bless America.”