TRANSCRIPT: Majority Leader Schumer Remarks At A Press Conference Marking The One-Year Anniversary Of The Inflation Reduction Act

Washington, D.C.– Senate Majority Leader Chuck Schumer (D-NY) delivered remarks at a press conference marking the anniversary of Senate Democrats’ passage of the Inflation Reduction Act. Below are Senator Schumer’s remarks, which can also be viewed here:

We all want to be here to highlight the IRA [Inflation Reduction Act], and you are all seeing the importance of that amazing piece of legislation. It is probably the most significant action ever taken by Congress to fight the climate crisis – the most significant ever.

And I first want to thank our great hosts, LCV and Climate Power, Rewiring America, the Blue Green Alliance, as well as countless other individuals and groups in the climate movement. We, the legislators here, stand on your backs because you have been there relentlessly informing America of this crisis and then leading America as to how to deal with the crisis.

This is not an insoluble crisis. It's a question of will not way. And in the IRA, with the great work of the groups that I have mentioned, we found that way in many different significant areas. And so I'm so proud of that. And I want to thank my colleagues here. You just heard from Senator Stabenow. No one has done more to make agriculture, particularly regenerative agriculture, important in America where we can grow our food without damaging the climate. I want to thank Senator Smith, a true leader, as well. And I know we expect Senator Wyden, who did lots of the tax work that was instrumental in the IRA, as well as Representatives Barragán and Davids and Johnson and Stanton and so many others who helped deliver the IRA a year ago.

In one year, this legislation is paying huge dividends for the American people, for our economy, for the environment.

Since we passed the IRA, costs are down to families. We're creating thousands of good-paying union jobs and we put our country back on track to meet our goals, to reduce the most harmful impacts of climate [change].

Costs are down, jobs are up and the amount of carbon going into the atmosphere is down. This is all great stuff, very important stuff.

It was a big deal last year when we announced the IRA, but it's a bigger deal now because it's actually happening, in every state we’re seeing it happen. We're seeing it happen in my state, whether it's green energy, whether it's new research, whether it's becoming the largest offshore wind center in the country off Long Island. All of this is happening and in every state this can be named over and over again.

The massive investments in wind and solar and EV batteries, in storage, it's all happening. And you know, I'm so proud because we're seeing the American economy transform in a way that it hasn't transformed since the development of electricity. And it's all coming for the good of our planet, for the good of the atmosphere, for the good of climate. And when a father knows his son or daughter, a mother knows her son or daughter is getting a green energy job, they know they have a future. This is not one of these dying industries. It's one of these growing industries. So it's great, great in every way.

In New York, in Rochester, a $370 million loan to Li-Cycle became the first of its kind lithium ion battery resource, creating close to 300 good-paying jobs and 1,000 construction jobs. In Schenectady, General Electric just announced they're investing $50 million to establish a new onshore wind turbine manufacturing facility: more good paying jobs. And in Binghamton, we are going to become one of the centers of lithium ion battery research and manufacturing because there's a Nobel Laureate named Whittingham, a very nice guy, came to Binghamton University early, won the Nobel Prize, was lured by all these fancy universities, but he stayed at BU and he is centering over $100 million in grants to help Binghamton become one of those centers. So a place that used to have shoe making and Endicott Johnson and even IBM now sees a bright future. That's one of the great things here.

And, by the way, because of the work of the people here, we are making this in America.

We just had a big, big plant located in the Hudson Valley, they closed the plant in China, they closed the plant in Japan and opened it up in the Hudson Valley because we told them you’ve got to make it in America. So that's another significant, important part of what we are doing.

So, no question, IRA is a game changer. A turning point. Instead of a frown on America about our future, it's going to put a smile on America about our future and we are all so proud that we were able to get this done.

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