Kamlager-Dove Celebrates the One Year Anniversary of the Inflation Reduction Act, Highlights How it Delivers for Families in California’s 37th District

WASHINGTON DC – Today, Congresswoman Sydney Kamlager-Dove (CA-37) joins in celebrating the first anniversary of the historic Inflation Reduction Act that was championed by congressional Democrats and signed into law by President Biden. This landmark law helped lower health care costs, bolstered clean energy job creation, and secured the biggest investment in combating the climate crisis in American history. In just twelve months, this critical piece of legislation has helped improve the quality of life for families in California’s 37^th District and the state writ-large.

“One year ago, President Biden signed the congressional Democrats’ Inflation Reduction Act into law, making massive investments that helped lower everyday costs for consumers, revitalize our economy after a devastating pandemic wiped out millions of jobs, and confront climate pollution in our communities,” said Congresswoman Kamlager-Dove.

“This transformative law has put the United States on a path to meet its climate goals, helped create 13 million jobs across the country, lowered health care costs for families, and made the tax code fairer. In California’s 37^th District, I have been especially glad to see the work that the IRA has begun to do for our clean energy economy through initiatives like electric vehicle expansion and how it has helped advance environmental justice by addressing the glaring disparities Black and Brown communities face when it comes to climate pollution,” continued Congresswoman Kamlager-Dove.

“I am proud to stand by my Democratic colleagues today to celebrate how this package has delivered for the American people and for the state of California."

Many of the Inflation Reduction Act’s policies are already at work for Californians, with even more progress on the way:

Lowering costs for families:

• Thanks to the Inflation Reduction Act, the 33,000 people who signed up for an Affordable Care Act marketplace plan in CA-37 are saving an average of $960 on their health insurance.
   
• Caps insulin prices for seniors and other Medicare beneficiaries at $35/month, saving the approximately 1,000 people in CA-37 who use insulin an average of $320 annually.
   
• Saves nearly 19 million Americans approximately $7.4 billion annually on prescription drug costs. An estimated 2,181,000 Californians will save an average of $300 on prescription drugs every year when cost-reducing policies in the Inflation Reduction Act – like a $2,000 cap on annual out-of-pocket pharmacy costs for Americans with Medicare – go into effect in 2025.
   
• Allows Medicare to finally negotiate prescription drug prices starting in 2026, slashing prices and saving taxpayers nearly $100 billion over the next 8 years.
   
• Unleashes the power of cleaner, cheaper energy to save families hundreds of dollars on their energy bills every year and provides thousands of dollars in discounts to help families upgrade to more efficient appliances and vehicles.

Growing the middle class:

• Delivers a clean energy future that is Made In America, with over 170,000 new jobs and $278 billion in new investments already announced in 44 states, including 5,288 clean energy jobs and $11,907,100,000 in investments right here in California.

• Lays the foundation for the future of our economy with historic investments in clean energy and American manufacturing that are projected to create millions of jobs and reduce carbon pollution by 40 percent by 2030.
   
• Gives more Americans a path to the middle class by expanding workforce training and registered apprenticeship programs to create good-paying jobs that don’t require a college degree.
   
• Since President Biden took office, 40,200 jobs have been created in CA-37 and unemployment in California has fallen from 8.7% to 4.6%.

Promoting tax fairness and reducing the deficit:

• Achieves hundreds of billions of dollars in deficit reduction without a penny in new taxes on families making under $400,000 per year.
   
• Ensures billion-dollar corporations are contributing to the communities they rely on with a 15% minimum tax for large corporations.
   
• Gives the IRS the resources they need to take on wealthy tax cheats while improving services for families, reducing average wait times from 27 minutes to 4 minutes.

For more information on how the Inflation Reduction Act benefits Californians, click here. 

To learn more about how the Inflation Reduction Act and the rest of President Biden’s Investing in America agenda is being implemented across the country, visit Invest.gov by clicking here. 

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