Booker Statement on Senate Passage of Inflation Reduction Act

Press Release

U.S. Senator Cory Booker (D-NJ) issued the following statement:

"Today, Senate Democrats took a historic step forward to reduce consumer costs, combat climate change, and implement a fairer tax code by passing the Inflation Reduction Act -- all while reducing the deficit.

"With commonsense reforms that will allow Medicare to negotiate prescription drug prices and cap out-of-pocket costs, we will protect seniors from outrageous prices charged by pharmaceutical companies for lifesaving medications. This bill also provides an additional three years of Affordable Care Act subsidies which will lower health care premiums for millions of Americans. We will also make the largest-ever Congressional investment to address the threat of climate change, moving our country toward cleaner energy production and reducing carbon emissions by roughly 40% within the decade. All of this will occur without increasing taxes on middle and lower-income families and individuals; instead, the biggest corporations will finally pay a fairer share.

"Importantly, the Inflation Reduction Act also invests $60 billion for environmental justice priorities, which will address legacy pollution, reduce air pollution in overburdened communities, and provide federal assistance to low-income consumers to make their homes more energy efficient. As a co-chair of the Senate Environmental Justice Caucus, I am proud to have championed these initiatives. I also recognize that Black and Brown communities, like my home city of Newark, require additional investments to equitably transition to a clean energy economy, and to ensure that clean air and clean water are not a privilege for some but a right for all. I remain committed to fighting on behalf of these underserved and disadvantaged communities.

"This bill will reduce costs for Americans and fight inflation. I am proud to have voted for it, and I urge the House to pass it swiftly."

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