Statement by Ambassador Katherine Tai Following Congressional Passage of the Inflation Reduction Act of 2022

August 12, 2022

“The Inflation Reduction Act is another step forward for President Biden’s economic agenda.  We are sharply focused on investing in American workers, lowering costs for families, and ensuring our businesses can succeed in a competitive global economy.

“This historic achievement will create good-paying jobs and further advance U.S. leadership in the development of cutting-edge clean energy technology.  The Inflation Reduction Act will also combat climate change, reduce the deficit, and provide significant financial relief for Americans by lowering health care premiums and energy costs.

“With this legislation, the Bipartisan Infrastructure Law, the CHIPS and Science Act, and a range of executive actions, the United States is in a stronger position to maintain our global competitive edge for years to come.  I congratulate President Biden, Speaker Pelosi, and Majority Leader Schumer for a remarkable series of accomplishments over the last eighteen months that will deliver concrete, meaningful results for the American people and create inclusive, resilient economic growth for the 21st century.”