Today, as President Biden signed into law the Inflation Reduction Act, the White House Office of Science and Technology Policy head Dr. Alondra Nelson released the following statement:
“Simply put, the Inflation Reduction Act will deliver for every American. It’s the exclamation point on a summer of achievement by Congress and the Biden-Harris Administration. This law will lower costs in the near term, making more affordable the energy and technologies we need to power our lives, while preserving our planet, and the drugs and healthcare we need to live longer and healthier lives. In the long term, this Act will launch the clean energy economy that will create millions of good-paying jobs and reduce greenhouse gas emissions by a billion metric tons by 2030 — ten times more than any single piece of legislation ever enacted.
“The President speaks often of how America can be defined by one word: possibilities. On his first day in office, he directed this Administration to center equity and opportunity for all Americans in all of our work. The Inflation Reduction Act moves us another step closer to both possibilities and equity for everyone in America. A family with a child who has leukemia may save up to $14,000 a year for a common cancer drug, while a person with diabetes will have the guarantee that the insulin they afford through Medicare will not cost more than $35 a month. A family farmer who has seen their yields shrink as a result of climate change will get help with smart farming practices that can make their land part of the climate solution. Clean energy upgrades in our homes and communities will help prevent tens of thousands of asthma attacks and thousands of premature deaths. Rural electric cooperatives serving 42 million Americans will lower costs and reduce carbon pollution. Through historic investments in health, climate, and the broader economy, this law lifts up every American and improves our collective wellbeing and security.
“Taken together, the Inflation Reduction Act, the CHIPS and Science Act, and the PACT Act will lead us into a new era of inclusive American innovation and leadership in science and technology. While these investments in the most promising solutions of tomorrow are profound, even more profound are the programs, vision, and values that begin uplifting communities across the country today.”