President Biden signed the Inflation Reduction Act into law on Tuesday – legislation hailed as a “good deal for Georgians,” supported by a majority of the American people, and praised by former Treasury secretaries and more than 120 leading economists. All eight of Georgia’s congressional Republicans voted against the bill, including its provisions to lower energy and health care costs, allow Medicare to negotiate the cost of prescription drugs, and reduce the deficit all without raising taxes a single cent on any Georgian making less than $400,000 a year.
As a result, Georgians will see their utility bills cut, good-paying jobs brought to our state, domestic manufacturing bolstered, and more. Here’s how:
The Inflation Reduction Act’s energy wins for Georgia:
LOWER ENERGY COSTS: The Inflation Reduction Act will make it more affordable for Georgia families to purchase energy efficient appliances when they need to, make repairs around their homes, and save money on their utility bills each month, through:
GOOD-PAYING JOBS: In 2021, there were already 75,211 Georgia workers employed in clean energy jobs. The Inflation Reduction Act will expand these opportunities, bringing an estimated:
DOMESTIC MANUFACTURING: Manufacturers employ 394,600 workers in Georgia, and the Inflation Reduction Act will help us make the technologies of the future at home— supporting local economies and strengthening supply chains. The Inflation Reduction Act will:
RURAL OPPORTUNITIES: The Inflation Reduction Act supports climate-smart agriculture practices, which will: