Rep. Blunt Rochester Celebrates Two Year Anniversary of the Inflation Reduction Act

WILMINGTON, Del. - Today, Congresswoman Lisa Blunt Rochester (D-Del.) recognized the two-year anniversary of the Inflation Reduction Act and the historic impact it has had on the First State and on communities across the nation.Thanks to the Biden-Harris Administration and Congressional Democrats, the Inflation Reduction Act has helped lower costs for families, create good-paying jobs, and grow our economy.

"Today, we celebrate two years since President Biden signed the Inflation Reduction Act into law," said Blunt Rochester, a member of the Regional Leadership Council. "I am proud of the work we did on this legislation, which will benefit the American people for generations. I am especially proud to have championed policies to lower the cost of drugs for our seniors and climate policies to invest in our ports and protect fenceline communities.

"Every day, we are seeing the progress made from this landmark law - but its impact has only just started. The IRA will continue to generate clean energy jobs, shore up our manufacturing sector, andlower costs for Delawareans in the years to come."

For Delaware, the Inflation Reduction Actis delivering lower costs for families and growing the middle class:

• More than 34,000 people on Medicare in Delaware take one of the 10 most expensive prescription drugs selected by the Biden-Harris Administration and will soon benefit from lower negotiated prices, announced by Administrationyesterday.
• 48,000 Medicare beneficiaries in Delaware are saving a total of $12.3 million on their prescription drugs compared to four years ago.
• 44,842 people signed up for a marketplace plan in Delaware will save an average of approximately $527 per month on their health care premiums this year.
• 6,200 people in Delaware who use insulin are saving an average of $420 annually thanks to the Inflation Reduction Act's $35/month cap on insulin prices for seniors and other Medicare beneficiaries.
• There has been over $65 millionprovided to Delaware for home energy rebate programs, which will help low-income households save on home energy bills.
• Over $3 million has been invested for new clean energy job creation.

Across the United States, the Inflation Reduction Act is:

• Saving nearly 19 million Americans approximately $7.4 billion annually on prescription drug costs starting in 2025 when Medicare out-of-pocket pharmacy costs are capped.
• Enabling Medicare to negotiate prescription drug prices, lowering prices at the pharmacy and saving taxpayers nearly $100 billion over the next 8 years.
• Delivering a clean energy future that is Made-In-America, with over 330,000 new jobs and $372 billion in new investments already announced in 47 states
• Unleashing the power of cleaner, cheaper energy to save families hundreds of dollars on their energy bills every year by providing thousands of dollars in discounts to help families upgrade to more efficient appliances and vehicles.
• Laying 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.
• Giving 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.

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