Rep. Meeks Statement on the Passage of the Inflation Reduction Act

Washington, D.C. - Today, Congressman Gregory W. Meeks released a statement after the House passed the Inflation Reduction Act, taking historic actions to lower families’ costs, deliver the largest-ever climate action, reduce the deficit, and fight inflation. Congressman Meeks stated: 

“Today, I voted to pass the Inflation Reduction Act and finally send it to President Biden’s desk. This legislation takes a critical step towards easing everyday costs for American families. From the American Rescue Plan to the Infrastructure Investment and Jobs Act to the Infrastructure Reduction Act, Democrats have prioritized providing relief for families and creating a more sustainable future for our communities. This is the biggest investment in energy security and climate action and protects the health of our planet while creating millions of good-paying jobs.  I am proud to have supported this legislation because it will help the many families and communities in my district who need relief.” 

The Inflation Reduction Act will provide an affordable and safe livelihood for all Americans by: 

• Lowering prescription drug prices: It gives Medicare the ability to negotiate the price of prescription drugs, prevents excessive price hikes, caps Insulin costs at $35 a month for Medicare beneficiaries, and caps out-of-pocket costs to $2,000. 

• Lowering the cost of health care: It extends Affordable Care Act subsidies for three more years and locks in lower health care premiums that save 13 million people an average of $800 a year. 

• Lowering energy costs and delivering largest-ever climate action: It invests in domestic energy production, manufacturing, and security, while reducing carbon emissions by roughly 40% by 2030. 

• Lowering the deficit and helping fight inflation: It provides a historic down payment on deficit reduction of approximately $300 billion to fight inflation.