INFLATION REDUCTION ACT GETS HIGH PRAISE FROM U.S. MAYORS, ECONOMISTS, CORPORATE AMERICA

FOR IMMEDIATE RELEASE 
August 8, 2022

Contact: 
Jack Miller, Communications Director
[email protected]

INFLATION REDUCTION ACT GETS HIGH PRAISE FROM U.S. MAYORS, ECONOMISTS, CORPORATE AMERICA

Axios: “Joe Biden has defied expectations, earning a legacy as a president who got big things done with a deeply divided Congress.”

WASHINGTON, DC — Following passage of the Inflation Reduction Act in the Senate, hundreds of U.S. mayors, economists, and corporate leaders have lined up to praise President Biden’s leadership and the landmark bill.

The U.S. Conference of Mayors urged Congress to pass the bill; corporate leaders at companies like Ford, Lyft, and Ørsted urged Congress to pass the bill; 126 economists urged Congress to pass the bill; five former Treasury Secretaries, including Hank Paulson, signed a statement that urged Congress to pass the bill; and three former heads of the EPA – including two Republicans – urged Congress to pass the bill.

Here’s some of the coverage…

  • Axios: Biden’s BFD“Joe Biden has defied expectations, earning a legacy as a president who got big things done with a deeply divided Congress.”

  • Morning Joe: “This has been an extraordinarily successful two years legislatively. Any way you cut it. Republicans have to admit this privately and they are. It’s been a hell of a run.”

  • CBS News: “No matter how you slice it, this has been one of the most successful stretches of the Biden presidency.”

  • Bloomberg“A bipartisan group of former EPA administrators endorsed the tax-and-climate deal Senate Democrats are moving to pass as quickly as this weekend, calling it the “most significant piece of climate legislation in United States history.”

  • Ceres“Corporate leaders call on Congress to promptly pass the Inflation Reduction Act Ford, Levi Strauss, Johnson Controls, Lyft, BP, and Shell among companies signing onto Ceres letter calling on Congress to pass the Inflation Reduction Act”

  • U.S. Conference of MayorsNation’s Mayors Urge Senate to Pass the Inflation Reduction Act

  • Axios“Five former Treasury secretaries — including Hank Paulson, who served under President George W. Bush — signed a statement strongly backing the “Inflation Reduction Act” brokered by Senate Majority Leader Chuck Schumer and Sen. Joe Manchin (D-W.Va.).”

  • CNN“This historic legislation makes crucial investments in energy, health care, and in shoring up the nation’s tax system. These investments will fight inflation and lower costs for American families while setting the stage for strong, stable, and broadly-shared long-term economic growth.”

  • Bloomberg: “The legislation would either reduce or have no effect on the taxes de or paid by any family with income less than $400,000,” Yellen wrote Tuesday in a letter to House Speaker Nancy Pelosi”

  • Yahoo“A memorandum from President Biden’s top pollsters now being circulated to Democrats on Capitol Hill shows broad support…‘Democrats should confidently support these measures, and campaign on them aggressively, putting Republicans on defense”
  • Politico Morning Money: “Former IRS commissioners from Democratic and Republican administrations say the provisions to boost IRS funding are critical to help the agency rebuild after years of underfunding. And they disputed GOP claims that middle-class Americans would face increased scrutiny as a result.”

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.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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