by | Aug 12, 2022 | Press Releases

August 12, 2022 (Albany, NY) – In response to the passage of the 2022 Inflation Reduction Act (IRA), Stanley Fritz, Political and Campaigns Director at Citizen Action of New York, released the following statement:

“The 2022 Inflation Reduction Act is a monumental piece of legislation that will make the largest investment in climate action in U.S. history and will lower the cost of health insurance and prescription drugs. Thanks to the strong leadership of Senator Schumer and the hard work of the entire New York delegation, this legislation has cleared both houses of Congress and we expect it to soon have President Biden’s signature.

The IRA will invest $369 billion over the next 10 years to advance cleaner energy production, reduce carbon emissions, and lower energy costs. At a time when climate change is threatening our current and future survival, these steps are crucial. The bill also contains investments in reducing the cost of health insurance and prescription drugs which will provide long-needed relief to millions. Far too many people are struggling due to the high cost of life-saving medications and 30 million people in America remain uninsured. Putting the health and well-being of people and families before the profits of wealthy shareholders and CEOs is the right thing to do, and we applaud our representatives for it.

The way these investments will be paid for – new taxes on the ultra-wealthy and large corporations making more than $1 billion in income – is in itself a major progressive victory. Big money in politics has fought against these common-sense tax provisions and prevented this kind of progressive change for a long time.

Unfortunately, this bill also contains compromises that emphasize how much work we still have to do. The IRA includes investments in new fossil fuel production which will further the exploitation of impacted communities and add to climate devastation. We will continue organizing for aggressive climate action, making sure that we prioritize the well-being of low income communities and communities of color.

The 2022 Inflation Reduction Act is historic and transformative, and that is worth celebrating. That we have further to go is a reality. Our path forward includes all of us working in solidarity towards a future where we can accomplish more big wins like this one, moving the needle further towards a truly just and free society.”