WASHINGTON, D.C. — U.S. Congressman Josh Gottheimer (NJ-5) Friday helped pass the Inflation Reduction Act — a huge win for North Jersey.
This legislation will lower prescription drug prices, especially for seniors, provide support for families struggling with the high cost of health insurance costs, cut energy costs, pay down the debt, and put in place the most important climate investments in our nation’s history. It will create jobs and boost domestic manufacturing. It makes no changes to personal income tax rates or those impacting small businesses and is fully paid for, Gottheimer said.
This bill does not raise taxes on individuals, families, or small businesses in New Jersey’s Fifth District, Gottheimer said.
“I’m proud to have helped pass a historic piece of legislation today that will help make life more affordable for families and small businesses in North Jersey,” Gottheimer said. “The Inflation Reduction Act does not raise taxes one penny on families or small businesses in my district. This legislation is a huge win for New Jersey and our nation — it will lower prescription drug prices, provide support for families struggling with the high cost of health insurance, create jobs, and put in place the most important climate investments in our nation’s history.”
The Inflation Reduction Act now heads to the President’s desk to be signed into law.