Statement From Governor Kathy Hochul on Senate Passage of Inflation Reduction Act

"I applaud Majority Leader Schumer and Senate Democrats for reaching an agreement on the Inflation Reduction Act of 2022. The compromise legislation makes critical investments to address the climate crisis through investments that will lower utility costs for everyday New Yorkers and spur renewable energy production needed to meet our emission reduction goals. Under this legislation, New Yorkers will also see lower healthcare costs and an extension of critical subsidies to ensure insurance remains affordable. To support these critical programs, the package finally closes longstanding corporate tax loopholes.

"I call on all my colleagues in the House of Representatives to swiftly pass this legislation, so it can quickly arrive at President Biden's desk for his signature — and so relief arrives to New Yorkers as quickly as possible."