State Representative Jeffrey N. Roy (D-Franklin) accepted an invitation from President Joseph Biden to attend a White House event celebrating the passage of the Inflation Reduction Act. The sprawling new law aims to lower prescription drug costs, address global warming, raise taxes on some billion-dollar corporations and reduce the federal deficit.
The event featured speeches from President Biden, Vice President Kamela Harris, Senate President Chuck Schumer, Speaker of the House Nancy Pelosi, and Lovette Jacobs, a proud union worker and fifth-year electrical apprentice at IBEW Local 103 in Boston.
The President signed the $750 billion bill, which provides funding for energy and climate projects aimed at reducing carbon emissions by 40% in 2030, the most significant investment fight climate change in history. The Tuesday event on the White House South Lawn brought together lawmakers, cabinet members, activists and interest groups who supported it.
"Today offers proof that the soul of America is vibrant. The future of America is bright and the promise of America is real," the President told the crowd.
The law also limits out-of-pocket drug expenses for seniors on Medicare and allows Medicare to negotiate prescription drug prices. It sets a minimum 15% corporate tax rate for most large companies and provides $80 billion in funding to the IRS, allowing the agency to hire thousands of agents and revamp decades-old technological systems.
“It was a tremendous honor to join several Massachusetts colleagues and many others from across the country for the White House event,” said Rep. Roy. “It was great to see how we are on a path to fight against climate change, lower prescription drug costs, lower health insurance costs, and lower energy costs for families. This legislation is the most aggressive action to confront the climate crisis and happened within days of the passage of the Act driving clean energy and offshore wind in Massachusetts. There is so much to celebrate and there is great hope for our future.”
The event also brought some musical star power too, with singer-songwriter James Taylor opening it with a performance. "It strikes me that this is a time when the world needs to cooperate ... more than ever before," Taylor said, referring to the climate change crisis.