One Year of Historic Investments in America

How the Inflation Reduction Act is creating new opportunities across the country one year after its passage. Problems viewing this email? [View it in your browser]( [Center for American Progress]( InProgress from the Center for American Progress From Promise to Progress: The Inflation Reduction Act's First Anniversary [Worker standing on top of solar panels]( This week commemorates the one-year anniversary of the Inflation Reduction Act being signed into law—a pivotal moment that has redefined the economic landscape for all Americans. This landmark legislation stands as a testament to the Biden administration’s commitment to fostering stability, prosperity, and financial security for everyone. In just a year, families are experiencing relief as the cost of living becomes more manageable, ensuring that their hard-earned dollars stretch further. Clean energy jobs have proliferated, breathing new life into the economy. More than [170,000]( new jobs have been created as a direct result of this legislation, while its clean energy initiatives are setting the stage for a greener future that will benefit generations to come. The Inflation Reduction Act is projected to add [1.5 million]( new jobs by 2030. Moreover, the investments from the Inflation Reduction Act are setting up some industries to [grow more quickly than expected](. These investments build on earlier investments from the Biden administration into growing the middle class and help create opportunities for [women]( and other [underrepresented workers]( to access stable, well-paying careers. Additionally, the Biden administration's investment agenda is supporting federal broadband expansion and creating a more connected society, not only to promote economic growth but also to [bridge the digital divide in rural areas](. The legislation has made health care more affordable for millions of Americans, providing access to prescription drugs and insurance coverage that was previously out of reach. The uninsured rate reached an unprecedented low of [7.7 percent]( in early 2023, Medicare can now [negotiate lower prescription drug prices]( for millions of seniors and other Americans, and [4 million]( Medicare beneficiaries now have their insulin costs capped at just $35 per month. These accomplishments are bolstered by the Inflation Reduction Act’s [tax changes]( which make important strides toward a tax code under which the wealthiest corporations and individuals pay their fair share. Unfortunately, some seek to undermine this progress. Cuts to this legislation threaten to dismantle investments vital to growing middle class, jeopardize job growth, and exacerbate energy costs. In contrast, the Inflation Reduction Act remains steadfast in its commitment to economic growth and fairness, ensuring that the ultrawealthy contribute while investing in the nation's prosperity. This anniversary serves as a reminder of our collective journey toward a stronger, fairer, and more sustainable America. [Learn More]( One Year of the Inflation Reduction Act [Image showing illustrations of four different clean energy projects with the text "one year of IRA"]( [repost This]( Progress in Action: Improving Air Travel and the Economy [Image of an airport tarmac]( The Pittsburgh International Airport, which serves as a primary airport for millions of people across Pennsylvania, Ohio, and West Virginia, is getting a [$20 million upgrade](. Originally built in 1952, the airport has been in need of a brand-new terminal since 2017. Thanks to a [$20 million grant]( from the Infrastructure Investment and Jobs Act, the long-awaited terminal is finally becoming a reality. Here’s how this project will affect the local economy, people who live in the region, and the environment: - Practical impact: The brand-new terminal will improve ease of travel for millions of passengers and reduce delays. - New jobs: The terminal renovations will create [more than 7,800 new jobs]( in the design and construction phases, and more than [80 percent of the work]( will be done by local firms. - Economic benefits: By strengthening tourism, investing in local industries, and creating new jobs, this project is estimated to generate [$2.5 billion in economic activity](. - Climate impact: The new eco-friendly terminal will be partially powered by a solar microgrid, expanding access to affordable renewable energy. Up to [75 percent of the waste]( from the old terminal will be recycled or reused to construct the new one. President Joe Biden’s policies are growing the middle class by upgrading America’s infrastructure, boosting American manufacturing, and accelerating the country’s transition to a clean energy future. Find out what infrastructure improvements, new jobs, and clean energy projects are happening in your hometown, state, or congressional district with the [Biden Administration Investment Tracker.]( [Learn More]( [Graphic with the text "Biden Administration Investment Tracker: Get the latest data on the Biden Administration's economic laws."]( Devastating Climate Impacts in the U.S. [A view of destruction from Hwy 30 days after a fierce wildfire destroyed the town of Lahaina, Maui.]( Last week, the [deadliest wildfires]( in modern U.S. history swept through parts of the Hawaiian island of Maui, burning more than [2,000 acres]( and destroying the entire town of Lahaina. [More than 100 people]( have lost their lives, and countless more have been seriously injured or remain missing. The fire likely began as a brush fire and was then fanned into an enormous blaze by [Hurricane Dora's]( winds as it passed through the region. The Maui wildfires are evidence of the [compounding]( impacts of a warming world. July 2023 was the [hottest recorded month]( in world history. Rising global temperatures—driven by climate change—have resulted in a significant decrease in annual rainfall in Hawaii, leading to the drought conditions and dry vegetation that fuels wildfires and makes them more difficult to control. At the same time, warming ocean temperatures have increased the frequency and intensity of hurricanes. The climate crisis is here and devastating communities around the world. But there is still time to change course. Consider [supporting ongoing relief efforts]( to help those affected by the Maui wildfire—and [urge leaders]( to avert the worst impacts of climate change by swiftly transitioning to a clean energy future. [Take Action]( Follow us on [Follow us on Twitter]( [Follow us on Facebook]( [Follow us on YouTube]( [Follow us on Instagram]( [Support CAP]( [Manage Email Preferences or Unsubscribe]( [Privacy Policy]( [Center for American Progress]( Center for American Progress 1333 H Street NW Washington, D.C. 20005 [supporter]