[ST. PAUL, MN] – Governor Tim Walz, Lieutenant Governor Peggy Flanagan, and members of their administration today celebrated President Biden’s signing of the Inflation Reduction Act of 2022. The Inflation Reduction Act will lower costs and grow the economy in Minnesota and across the country.

“This is a big win for Minnesota,” said Governor Walz. “The Inflation Reduction Act will lower the price of prescription drugs and help Minnesota workers and families access affordable health care – something our administration has prioritized as families struggle with rising costs.”

“As a mom – and as Lieutenant Governor – I’m thrilled to see the Inflation Reduction Act signed into law,” said Lieutenant Governor Flanagan. “This is a historic step in addressing climate change and will help protect Minnesota’s environment for generations to come.”

“The Inflation Reduction Act benefits Minnesotans with energy investments that save money for consumers and businesses, create high-paying jobs across our state, and develop in clean energy so Minnesota is powered by homegrown energy rather than imported fossil fuels,” said Commerce Commissioner Grace Arnold. “In addition, the cost of health insurance is going down for thousands of Minnesotans thanks to the passage of the IRA.”

“This new federal law will have important implications for the health of Minnesotans,” said Minnesota Commissioner of Health Jan Malcolm. “The law includes actions to battle climate change and to reduce air pollution-related death and illness. It also takes some strong steps to improve access to affordable health care, which is so important given that rising health care prices continue to add stress on Minnesotans’ pocketbooks and our state budget.”

“Minnesota’s farmers, communities, and land and water will see many benefits from the Inflation Reduction Act,” said Minnesota Department of Agriculture Commissioner Thom Petersen. “This act provides a biodiesel tax credit extension and money for biofuel infrastructure that will help expand market opportunities for producers and support jobs across the state. We’ll also see environmental benefits through funding of conservation programs that focus on soil health and climate-smart initiatives.”

“The Inflation Reduction Act will amplify the good work we’re doing in Minnesota to support our workers, families, and small businesses, and will lead to lower costs for hardworking Minnesota families,” said Department of Employment and Economic Development Commissioner Steve Grove. “It will create thousands of good-paying jobs in the growing green energy sector, and will make it easier for families to invest in sustainability improvements at their homes – thereby also helping our contractors, small businesses, and manufacturers. We’re moving in the right direction, and at DEED, we’re excited to keep this momentum going.”

“Many Minnesota families are struggling financially,” said Human Services Commissioner Jodi Harpstead. “The Inflation Reduction Act will help working families afford health care coverage by extending premium relief that was offered to MinnesotaCare enrollees during the pandemic. This means approximately 100,000 Minnesotans will continue to save on premiums through 2025. That can make a big difference for parents trying to make ends meet.”

“With climate change one of the greatest threats to Minnesota’s ongoing prosperity, we are committed to helping our region be resilient to climate change,” said Met Council Chair Charlie Zelle. “We recognize the value of this critical legislation that supports a vision embraced by Met Council, and the Twin Cities regional government.”

“Today the Biden-Harris administration has enacted legislation that will reduce health care costs for Minnesotans for years. MNsure estimates the Inflation Reduction Act will continue to help lower premiums for over 70,000 Minnesotans who currently buy health insurance through MNsure, including 32,000 Minnesotans nearing retirement age,” said MNsure CEO Nate Clark. “These savings put more money back in the pockets of Minnesota’s working families and help thousands of Minnesotans maintain or access health coverage.”

“The IRA provides direct support for a clean energy future and accelerates climate action in Minnesota, including critical support for sustainable transportation technologies,” said Tim Sexton, Assistant Commissioner of Sustainability, Planning, and Program Management for the Minnesota Department of Transportation. “The Act includes more than $100 billion in funding for electric vehicles and related manufacturing, materials, consumer incentives, and technology research that will help transform the transportation sector while supporting US jobs and manufacturing.”