| (Arlington, VA) – Today, The LIBRE Initiative, the largest center-right Latino organization in the country, issued a statement as the anniversary of the Inflation Reduction Act (IRA) approaches.
Signed into law on August 16th, 2022, the misleadingly titled Inflation Reduction Act was hailed by President Biden and Vice President Kamala Harris – as well as every member of the president’s party in the U.S. Senate as legislation that would lower costs and reduce inflation for the American people. In fact, Vice President Harris cast the deciding vote on the Inflation Reduction Act.
Nearly 2 years after the bill was signed into law economists agree, at best it had a negligible effect on inflation with some citing that it likely made the situation worse. According to the U.S. Joint Economic Committee, the average American household will pay $13,000 more by the end of the year than they would have underJanuary 2021 prices for the same goods. Finally, there are reportsthat that 40% of President Biden’s major IRA manufacturing projects have hit delays.
Jose Mallea, CEO of The LIBRE Initiative, issued the following statement:
“The Latino community is hurting. Inflation is stifling Latinos’ ability to make ends meet and plan for their future.
And it’s happening because U.S. Senators like Sherrod Brown, Jacky Rosen, Tammy Baldwin, and Bob Casey have been rubberstamping trillion-dollar spending for special interest giveaways.
There are lots of examples of this reckless spending, but one of the biggest is the misleadingly titled: Inflation Reduction Act. And as the two-year anniversary of this monstrosity of a bill becoming law nears, it’s important that the American people – including the Latino people – know that we cannot afford to double down on the status quo.
As the largest center-right Latino organization in the country, we look forward to engaging with the Latino community – especially in places like Ohio, Nevada, Wisconsin, and Pennsylvania – on why we need to hold accountable Sens. Brown, Rosen, Baldwin, and Casey for this historic inflation.”
For media inquiries: Contact Wadi Gaitan, wgaitan@standtogether.org or Israel Ortega, Iortega@standtogether.org |
