Charleston, WV – Today the U.S. House of Representatives passed U.S. Senator Joe Manchin’s (D-WV), Chairman of the Senate Energy and Natural Resources Committee, Inflation Reduction Act of 2022. The legislation now heads to President Biden’s desk to be signed into law. The historic legislation will address record inflation by paying down our national debt, lowering healthcare costs, and increasing American energy production to provide relief at the pump and bolster energy security.
Senator Manchin also secured a commitment from President Joe Biden, Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi to move a comprehensive permitting reform package before the end of the fiscal year on September 30, 2022. To learn more about the permitting reform legislation, click here.
“Today the U.S. House of Representatives passed the Inflation Reduction Act, which will increase domestic energy production, lower energy and healthcare costs, and pay down our national debt without raising costs for working Americans. This bill is the result of months of negotiations, and I’m proud of our work to get it across the finish line. The Inflation Reduction Act will lower the inflation taxes that are hurting West Virginians and Americans by investing in American energy production that will lower gas and home energy prices. The bill also ensures everyone is paying their fair share so we can get our financial house in order while protecting working Americans and small businesses. I look forward to President Biden quickly signing this legislation into law and following it up with comprehensive permitting reform that Congress will pass next month.”
To learn about the Inflation Reduction Act benefits for West Virginia, click here.
To learn more about the Inflation Reduction Act, click here.
To read Treasury’s updated guidance letter, click here.