Congressman Krishnamoorthi Votes for Historic Inflation Reduction Act To Lower Expenses For American Families

WASHINGTON - Today, Congressman Raja Krishnamoorthi voted to pass the historic Inflation Reduction Act (IRA) and send it to the President's desk. Thisgroundbreaking legislation will reduce health care and prescription drug costs, combat climate change, and lowerthe nation's budget deficit.

"I was honored to join my colleagues in voting to pass the Inflation Reduction Act to bring down the cost of living for American families and seniors while reducing inflation and combatting climate change," said Congressman Raja Krishnamoorthi. "This legislation will help fight inflation by reducing our nation's deficit by $300 billion and enabling Medicare to negotiate lower prices for prescription drugs. The IRA will also cap out-of-pocket drug costs for Medicare beneficiaries at $2,000 per year and cap the monthly cost of their insulin at $35. American families will see the IRA's benefits as it helpslower household energy costs by an average of $1,000 per year while also enabling lower Affordable Care Act health insurance premiums. Fundamentally, this legislation is a major step forward as we work to help seniors and families by lowering their healthcare, energy, and prescription drug costs."