2 YEARS IN: How the Inflation Reduction Act Has Transformed New York—and What’s Still to Come!
“The Inflation Reduction Act is Paving the Way for a Healthier, More Affordable Future for New York” - Maria Martinez
NEW YORK — Two years ago today, President Biden signed into law the Inflation Reduction Act, a piece of legislation that has come to define the Biden-Harris administration. The Inflation Reduction Act was an unparalleled investment in working- and middle-class Americans that has improved healthcare coverage and lowered drug costs for tens of millions, invested in clean energy projects across the country, and created hundreds of thousands of new jobs—all while reducing the deficit!
“It feels like every other week, we’re hearing about some new project or policy from the Inflation Reduction Act that’s coming online, and I have a feeling that drumbeat will only continue to grow,” said Maria Martinez, Executive Director of Empire State Voices. “The Biden-Harris administration will be remembered for decades to come by the seeds that are being planted today. From lowering the cost of healthcare and prescription drugs for over a million New Yorkers to investing in clean energy projects and creating high-paying jobs in communities across our state, the Inflation Reduction Act is paving the way for a healthier, more affordable future for New York. It’s amazing what you can do when corporations and billionaires are finally forced to start paying their fair share!”
Here’s how the Inflation Reduction Act is already impacting New York:
$7.4 billion in private-sector investments for solar, wind, and other clean energy projects
$1.6 billion in public funding for initiatives to accelerate the clean energy transition
$565 million for electric vehicle chargers, clean transit busses, and clean school busses
928,000 New Yorkers on Medicare will save $196 million thanks to the cap on out-of-pocket prescription drug costs
Over 75,000 New Yorkers on Medicare are saving an average of $483/year thanks to the $35 a month cap on insulin
Nearly 114,000 New Yorkers are saving an average of $361/month on health insurance premiums
To learn more about Empire State Voices, contact press@empirestatevoices.org
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About Empire State Voices
Empire State Voices is a multi-year campaign dedicated to amplifying the voices of everyday working New Yorkers. We are fighting for economic policies that make life more affordable for constituents and holding Members of Congress across the state accountable when they fail to do the same.
