Washington, D.C. – Speaker Emerita Nancy Pelosi issued the following statement marking one year since the Inflation Reduction Act was signed into law:

“When President Biden affixed his signature to the Inflation Reduction Act one year ago today, America not only made history – but we made progress on the most pressing challenge of our times.

“At a time when devastating disasters are wreaking havoc on communities across the country, the Inflation Reduction Act delivers $370 billion to combat the climate crisis – the biggest climate action in human history!  Our investments will advance clean air and clean water, create millions of good-paying jobs, strengthen global security and honor our moral obligation to pass on a healthy planet to future generations.

“At the same time, families are feeling the impact of this landmark law at their kitchen table.  At long last, Medicare will soon have the power to negotiate the price of prescription drugs.  Seniors can now get insulin for just $35 a month.  And fifteen million Americans are saving an average of $800 per year on health insurance through ACA exchanges.

“This historic progress was achieved without a single Republican vote.  It is because of the vision of President Biden, the commitment of Congressional Democrats and the persistence of the outside mobilization that, today, we celebrate this monumental legislative achievement.  Always fighting For The People, we remain hard at work to forge a healthier, cleaner, fairer future for all.”