Press ReleaseAugust 16, 2023

Anniversary of Inflation Reduction Act is Nothing to Celebrate

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the one-year anniversary of the Inflation Reduction Act:

“The anniversary of the Inflation Reduction Act is nothing to celebrate. Prices on goods and services have increased significantly since it was passed. While the inflation rate has moderated due to aggressive Federal Reserve action, today’s price increases are occurring on a much higher price base. Everyone sees these higher prices in their everyday lives as they struggle to pay their bills. As a result, their real wages and standards of living decline. According to JCN’s SBIQ national poll of small businesses, inflation remains by far the biggest concern of respondents. The IRA has done nothing to moderate this small business hurdle.”

“The IRA has directly contributed to inflation because of the hundreds of billions of dollars it spends on expensive renewable energy. This administration is more concerned about green energy than making sure people have enough green to pay for energy.”