Today, President Joe Biden signed the Inflation Reduction Act, officially codifying this groundbreaking piece of legislation into law. In response, SMART issued the following statement.
“By signing the Inflation Reduction Act, President Joe Biden has once again acted on his campaign promise to be a president for working Americans. Once implemented, the Inflation Reduction Act will help alleviate rising prices for working families by cutting the cost of healthcare, lowering utility bills and making massive investments in green energy and American manufacturing – all with strong labor standards that will help create good, union jobs. Unlike the past administration, this legislation will see absolutely no tax increases for small businesses and families that makes less than $400,000 a year – instead, corporations will finally be held accountable and pay their fair share. And most importantly for our members, SMART workers will be called upon to take on the green energy jobs that this bill creates. We commend President Biden for signing this bill, and we look forward to meeting its demands.”