Center for American Progress

STATEMENT: CAP’s Patrick Gaspard on the Signing of the Inflation Reduction Act
Press Statement

Washington, D.C. — Today, President Joe Biden signed the Inflation Reduction Act into law. Following the signing, Patrick Gaspard, president and CEO of the Center for American Progress, issued the following statement:

Today, President Biden signed the most consequential health care law in more than a decade, the most significant economic legislation in a generation, and the most impactful climate change bill ever. While the Inflation Reduction Act is in itself historic, when paired with the CHIPS and Science Act, the bipartisan infrastructure law, and the American Rescue Plan, the president is addressing urgent priorities such as fighting inflation and fortifying supply chains while strengthening our economy for decades to come.

President Biden is undoubtedly the most legislatively successful president in modern American history. It is all the more remarkable that these successes have come when political divides are the deepest in living memory and when his party holds the House and the Senate with only the smallest of margins. Together with Senate Majority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA), President Biden has expanded on what was even thought politically possible just a few weeks ago. And it must be used as a springboard toward more progress. But while the work continues, it is essential that we take a moment to realize that thanks to the Inflation Reduction Act, millions of Americans will gain green jobs, afford new climate-friendly appliances and lifesaving medications, and ultimately breathe a little easier.

For more information or to speak to an expert, contact Julia Cusick at [email protected].

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