Rep. Susie Lee Votes to Pass Inflation Reduction Act

WASHINGTON – Today, Rep. Susie Lee voted to pass the Inflation Reduction Act (IRA), which will lower costs for prescription drugs and health care, create good-paying clean energy jobs, invest in drought resiliency, reduce the deficit, and more.

"Nevadans sent me to Congress to deliver lower costs for prescription drugs, affordable health care, and policies that will fight this climate crisis with the urgency that it demands," said Rep. Susie Lee. "Now, we're delivering on that promise by passing the Inflation Reduction Act. This legislation will cut families' costs, put money back in Nevadans' pockets, and combat our climate crisis, all while lowering the deficit and fighting inflation. This is just the kind of historic legislation we need as families are facing rising prices and we're seeing the devastating effects of climate change – from drought to wildfire to catastrophic flooding. While Republicans have been talking about inflation for months, Democrats have taken decisive action to provide relief for hardworking families. I'm proud to have cast my vote for this common-sense legislation to help families across Nevada."

The Inflation Reduction Act will bring down costs for working families, create millions of good-paying jobs by delivering the most significant action on climate in history, and dramatically reduce the deficit. The bill:

• Lowers prescription drug prices by finally enabling Medicare to negotiate the price of prescription drugs, prevents excessive price hikes, and caps out-of-pocket costs to $2,000.
• Lowers the cost of health care by extending ACA subsidies for three more years, locking in lower health care premiums for Nevadans. A new study found that the expansion of ACA subsidies in this legislation will save Nevada families around $1,840 a year on average for those with employment-based health coverage, and $2,290 a year on average for those who get health insurance through the exchange.
• Reduces energy costs, saving Nevada Families an average of $1,000 a year.
• Promotes energy independence by taking steps to enhance reliability, ensure domestic production, and strengthen vulnerable supply chains. The IRA invests in energy storage and transmission to allow renewable energy resources to be used more reliably and brings supply chains back to America through tax credits and support for American manufacturing.
• Delivers on climate action and lowers costs by investing in clean energy and tax credits, creating approximately 9 million jobs over the next decade. The IRA will cut U.S. carbon emissions by approximately 42% by 2030.
• Addresses the drought by investing $4 billion in funding for the Bureau of Reclamation to combat Western drought, including the Colorado River Basin and Lake Mead in particular.
• Lowers the deficit and helps fight inflation, making a historic down payment on deficit reduction of approximately $300 billion to fight inflation.
• Ensures big corporations and the ultra-wealthy pay their fair share in taxes by closing unfair tax loopholes.

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