RELEASE: Gottheimer Helps Pass Inflation Reduction Act, Win for NJ Families

Aug 12, 2022
Press

Win for NJ Families

No Tax Increases on Families or Small Businesses, Pays Down Debt

Helps Families Save on Prescription Drugs, Healthcare, Energy

Will Creates Jobs, Boosts U.S. Manufacturing

Historic Climate Investment

WASHINGTON, D.C. — Today, August 12, 2022, U.S. Congressman Josh Gottheimer (NJ-5) 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. 

This bill does not raise taxes on individuals, families, or small businesses in New Jersey’s Fifth District.

“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,” said Congressman Josh Gottheimer (NJ-5). “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.  

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