Senator Baldwin-Supported Inflation Reduction Act of 2022 Signed Into Law

WASHINGTON, D.C. – Today, President Joe Biden signed the U.S. Senator Tammy Baldwin-supported Inflation Reduction Act of 2022 into law. The Democratic legislation will close tax loopholes for big, billion-dollar corporations and make them pay a fair share of taxes to cut the deficit, lower the out-of-pocket cost of prescription drugs, reduce health insurance premiums, lower household energy bills, and invest in American clean energy to create jobs and take on the climate crisis.

“Wisconsin working families need lower costs and today President Biden and Congressional Democrats are delivering results with the Inflation Reduction Act. Our reforms will close tax loopholes for big, billion-dollar corporations and make them pay a fairer share of taxes so we can cut the deficit and lower the out-of-pocket costs for working families. The legislation will lower health care premiums and finally take on big drug companies to lower prescription drug costs. The Inflation Reduction Act will invest in the production of Made in America clean energy that will create jobs, take on the climate crisis, and lower energy costs for Wisconsinites. While every member of the Wisconsin Republican Congressional delegation stood with big drug companies and billion-dollar corporations, Democrats are fighting inflation and delivering some relief for working families.”

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