Rep. Susan Wild Celebrates Second Anniversary of Inflation Reduction Act, Highlights Law’s Key Investments in the Greater Lehigh Valley

Today, on the second anniversary of the Inflation Reduction Act beingsigned into law, Congresswoman Susan Wild highlighted the significant impact this legislation has already had across the Greater Lehigh Valley.

"The Inflation Reduction Act is a landmark law that is helping lower costs for hardworking Americans and build an economy that works for everyone," said Congresswoman Susan Wild. "From capping the price of life-saving prescription drugs to creating good-paying, union jobs in our district, the IRA is making a real difference in our community, commonwealth, and country. I'll keep fighting to pass commonsense legislation like the Inflation Reduction Act and secure critical investments to bolster our local economy and lower costs for Lehigh Valley families."

In the 117^th Congress, Congresswoman Wild joined every House Democrat to pass the Inflation ReductionAct (IRA) to help boost our nation's economy in the midst of the COVID-19 pandemic, lower costs for hardworking American families, take on corporate price gouging, and support struggling small businesses. In just two years, this legislation has provided significant investments across America, including in Pennsylvania's Greater Lehigh Valley.

Below are some examples of the groundbreaking impacts Pennsylvania's 7^th District has already seen thanks to this landmark law:

One of Congresswoman Wild' top priorities is ensuring all Americans can access affordable, high-quality health care, and while there is still much work to do to achieve this goal, the IRA has propelled the United States forward. By supporting our seniors by capping the cost of insulin at $35/month and capping out-of-pocket drug costs at $2,000 annually, as well as covering important vaccinations, the IRA is expected to lower costs for approximately 646,000 Pennsylvanians in 2024 alone. And this is only the beginning - just yesterday, the Centers for Medicare and Medicaid Services (CMS) announced that they had reached an agreement with pharmaceutical companies to lower the cost of 10 of the most expensive prescription medications thanks to price negotiation provisions in the IRA. These life-saving medications - which are used to treat a variety of diseases including kidney disease, diabetes, blood cancer, arthritis, psoriasis, and Crohn's disease - will now be more affordable for seniors who rely on them.

The IRA has also helped families across the Greater Lehigh Valley save on their monthly energy bills and is working to allow manufacturers across America to create good-paying jobs and promote Made-In-America policies. Thanks to IRA provisions, Pennsylvania homeowners can make home-upgrades to save hundreds on their annual energy costs and increase their home value by up to nearly $23,000. Congresswoman Wild also worked to secure a $200 million grant through the IRA's Domestic Manufacturing Conversation Grant program to allow Mack Trucks plants across the country, including the facility in Macungie, revitalize their operations and create hundreds of new jobs.

These landmark investments to lower health care and energy costs are just the beginning. As just one example of how the IRA will continue to work to support hard-working American families, Congresswoman Susan Wild recently announced Direct File will be expanded to allow Pennsylvanians to file their taxes directly with the IRS for free in 2025. Rep. Wild will continue using every tool at her disposal to lower costs for American families.

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