Fact Sheet

Top 11 Benefits of the Inflation Reduction Act

The recently passed Inflation Reduction Act will fight inflation; bring down the skyrocketing cost of prescription drugs; cut health care costs; make historic investments to tackle climate change; and significantly cut the deficit.

After more than one year of negotiations in Congress, the recently passed Inflation Reduction Act includes historic, overwhelmingly popular investments and savings for older adults, families, and the planet. By taking on the most powerful special interests in Washington—Big Pharma, Big Oil, and Wall Street—the legislation delivers lower energy and health care costs, fights inflation, reduces the deficit, and jump-starts a new affordable clean energy economy.

The above excerpt was originally published in the Center for American Progress. Click here to view the full fact sheet.

The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.

Authors

Will Ragland

Senior Director of Research, Advocacy

Colin Seeberger

Senior Adviser, Communications

Emily Gee

Vice President and Coordinator for Health Policy

Trevor Higgins

Acting Senior Vice President, Energy and Environment

Rose Khattar

Associate Director, Economic Analysis

Seth Hanlon

Acting Vice President, Economy

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