August 16, 2023

One year ago today, President Biden signed the Inflation Reduction Act into law. Gerard Scimeca,
Chairman of Consumer Action for a Strong Economy (CASE), issued the following statement in response
to this anniversary:

“One year has gone by since the disastrous IRA became law, and the negative effects on consumers are
obvious. CASE was clear from the beginning that the IRA was nothing more than a vessel for greater
government control over crucial sectors of our economy like healthcare. The law’s prescription drug
price controls are proof as they are taking us further down a path toward socialized medicine. Many
companies have already halted critical drug development projects as a result, jeopardizing American
patients’ access to future cures and treatments.

“At the one-year mark, the IRA is proving to be a slippery slope. Responsible lawmakers must push back
against new calls to expand the law’s drug pricing provisions. The future of medical innovation is on the
line.”