ICYMI: INFLATION REDUCTION ACT WILL BUILD A BETTER FUTURE FOR YOUNG AMERICANS
White House Fact Sheet Details How the IRA Will Make the Future Brighter for the Young & Generations to Come
In Case You Missed It — The Inflation Reduction Act makes historic investments in America’s future and is the strongest action the country has ever taken to confront the coming climate crisis. At the same time, it will lower health care and energy costs for Americans.
The White House released a fact sheet detailing how the Inflation Reduction Act will build a better future for America’s young people while making sure that no one making under $400,000 per year will pay a penny more in taxes. You can read its highlights below.
THE INFLATION REDUCTION ACT WILL:
TACKLE THE CLIMATE CRISIS: This law represents the single most aggressive action the U.S. is taking to tackle the climate crisis and create clean energy solutions in American history. The law will bring down energy costs for families and create thousands of good jobs, all while reducing climate pollution and ensuring that we have a clean, secure future energy supply.
LOWER HEALTH CARE COSTS: The President’s American Rescue Plan made premium tax credits more generous and lowered health care premiums for working families. With those improvements set to expire at the end of 2022, The Inflation Reduction Act has extended them through 2025, which will save 13 million Americans hundreds of dollars per year.
MAKE THE TAX CODE FAIRER: President Trump and Congressional Republicans’ 2017 tax law only made an unfair tax system worse. The Inflation Reduction Act of 2022 is a critical step forward in making our tax code fairer.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.