AFL-CIO Marks Two Years of Inflation Reduction Act
Editorial StaffThe Facts -
- The IRA has created over 330,000 clean energy jobs and lowered energy costs for millions.
- Trump's Project 2025 Agenda aims to repeal the IRA, eliminating clean energy jobs and raising costs.
- The AFL-CIO supports electing Kamala Harris to continue the IRA's successes and protect labor gains.
Statement from AFL-CIO President on Inflation Reduction Act Anniversary
Statement from AFL-CIO President Liz Shuler on the two-year anniversary of the signing of the Inflation Reduction Act (IRA):
In the two years since the Biden–Harris administration signed it into law, the Inflation Reduction Act has fulfilled its promise. The IRA has driven the economy, creating over 330,000 clean energy jobs and lowering energy costs for 3.4 million Americans in 2023 alone. It has revitalized American manufacturing and construction while combating climate change. By enforcing a 15% corporate minimum tax and empowering the IRS to target wealthy tax cheats, it has recovered over $1 billion. The IRA has also saved 4 million Medicare beneficiaries money through $35 per month insulin and a $2,000 drug cost cap. Recently, the Biden–Harris administration announced it is reducing costs for 10 widely used drugs after Medicare's first negotiation.
These tremendous gains, achieved with the labor movement, could be destroyed if Donald Trump is elected again. Trump’s Project 2025 Agenda calls for a full repeal of the IRA, which would eliminate clean energy jobs and send manufacturing jobs overseas. It would also undermine provisions that ensure fair wages, increase apprenticeship opportunities, and raise energy and transportation costs for families. Additionally, it would destroy Medicare Part D’s ability to negotiate drug prices, and allow tax cheating by billionaires and corporations.
Working people won’t tolerate Trump’s anti-science, union-busting policies. The AFL-CIO is fighting to elect Vice President Kamala Harris, who played a critical role in passing the IRA. We aim to work with the Harris–Walz administration to build on the IRA’s success, making healthcare more accessible and creating good-paying union jobs in the green economy.
Background
Labor Wins Achieved by the Inflation Reduction Act:
- Created over 330,000 clean energy jobs.
- Incentivized fair wages and hiring from apprenticeship programs.
- Lowered energy bills and prescription drug prices.
- Revitalized American manufacturing construction, which has doubled.
- Helped cut carbon emissions by 40% below 2005 levels by 2030.
How Trump Plans to Gut the Inflation Reduction Act:
- By ending all IRA grants, Trump would eliminate clean energy jobs and send manufacturing jobs overseas.
- By vowing to gut labor standards and undermine Apprenticeship Programs.
- By saying he’ll end IRA programs that cut costs for families, such as tax credits for electric vehicles, solar power, and home upgrades.
- By ending Medicare drug price negotiations, costing Medicare users an additional $1.5 billion and increasing the federal deficit by $6 billion.
Contact: Prerna Jagadeesh, 202-637-5018
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