Donald Trump and JD Vance’s Project 2025 agenda calls to gut the Inflation Reduction Act. On the second anniversary of the IRA, DNC Rapid Response Director Alex Floyd released the following statement: 

“If Donald Trump and JD Vance get their way, they will follow through on their Project 2025 agenda to gut the Inflation Reduction Act and roll back the historic progress made thanks to President Biden and Vice President Harris. The Trump-Vance ticket is standing firmly against lowering costs and addressing the climate crisis – it’s an extreme and out-of-touch agenda that will be a loser at the ballot box this November.”

Donald Trump and JD Vance have railed against the Inflation Reduction Act, and their Project 2025 agenda includes repealing the landmark legislation.

Business Insider: “Former President Donald Trump on Friday slammed the Democratic-led climate, health, and tax bill, arguing that Republican Senate Minority Leader Mitch McConnell of Kentucky was ‘taken for a ride’ by Sen. Joe Manchin of West Virginia.”

Politico: “Vance has said that he would like to get rid of much of the Inflation Reduction Act.”

Business Insider: “Project 2025 and the elimination of the Inflation Reduction Act have been championed by several conservative organizations, all led by the Heritage Foundation, a major conservative think tank.”

WBUR: “Project 2025 also calls for the repeal of the 2022 Inflation Reduction Act.”

Project 2025: “Support repeal of massive spending bills like the Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act (IRA).”

Vance: “I think there’s a lot of bad policy in [the IRA]. … And I’d like to see a lot of it gotten rid of.”

Vance: “[The IRA is] dumb, does nothing for the environment and will make us all poorer.”

Heartland Signal: “JD Vance opposes [the Inflation Reduction Act’s] electric vehicle tax credits that will bring manufacturing, thousands of new jobs to Ohio”

Center for American Progress: “Project 2025 Prescription Drug Plan Would Increase Costs for as Many as 18.5 Million Seniors and Others With Medicare”

The Inflation Reduction Act is lowering costs for hardworking families, but Trump and Vance want to risk an “inflation bomb” by rigging the economy for the ultra-wealthy at the expense of the middle class again.

Axios: “Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump’s plans would reignite inflation and cause lasting harm to the global economy if he wins in November.”

BBC: “[Project 2025’s] economic advisers suggest that a second Trump administration should slash corporate and income taxes, abolish the Federal Reserve and even consider a return to gold-backed currency.”

Project 2025: “The corporate income tax rate should be reduced to 18 percent.”

The Hill: “Trump win, GOP sweep would fuel inflation: Moody’s Analytics”

The Atlantic: “Trump’s Plan to Supercharge Inflation”

Vance on Trump’s plan that would raise tariffs and raise costs for hardworking Americans: “This is a fascinating proposal and we could talk for a while about it.”

Vance: “The left attacked Donald Trump for those tax cuts said they would make the deficit worse when in reality we took in more revenue because the government got out of the way on the regulatory side and the tax cuts spurred a lot of growth which means more people working, which meant more economic production which meant the entire economy was healthier… I think we have a pretty common sense regulatory and tax agenda.”

New York Times: “The 2017 corporate tax cuts signed into law by Mr. Trump have not increased government revenue… In fact, they have had the opposite effect.”

The Guardian: “Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.”

Trump and Vance’s Project 2025 plan to gut the IRA would roll back the largest US investment ever in addressing climate change that is helping create clean energy jobs. 

Financial Times: “Donald Trump would gut Joe Biden’s landmark IRA climate law if elected”

“Donald Trump is planning to gut US President Joe Biden’s landmark climate law, increase investment in fossil fuels and roll back regulations aimed at accelerating the transition to electric vehicles if he is elected next year. … The Inflation Reduction Act — the centrepiece of Biden’s economic strategy, with $369bn in tax breaks and subsidies for clean energy — would be in Trump’s crosshairs.”

CNBC: “The [Inflation Reduction Act], which President Joe Biden signed into law in August, is the most aggressive climate investment ever taken by Congress and is expected to slash the country’s planet-warming carbon emissions by about 40% this decade and move the country toward a net-zero economy by 2050.”

Bloomberg: “Between last August, when President Joe Biden’s landmark climate bill became law, and the end of January, companies have announced more than 100,000 clean energy jobs in the US, according to an analysis released Monday by the nonprofit advocacy group Climate Power.”

While the IRA is lowering prescription drug costs, Trump and Vance’s Project 2025 agenda and extreme congressional Republicans threaten to undo the progress made and rip away affordable health care access from millions of Americans.

Axios: “How Trump could weaken Medicare drug pricing negotiations”

Daily Beast: “Trump Revives Plan to Dismantle Obamacare if Elected in 2024”

The Hill: “On the campaign trail, Trump has doubled down on his promise to repeal the ACA, a feat he fell one vote short of in 2017.”

NOTUS: “Vance suggested repealing Obamacare would still be a priority.”

Axios: “RSC budget revives conservative health priorities”

“The Republican Study Committee today laid out a budget proposal that suggests a health policy blueprint if the GOP controls the White House and at least one chamber of Congress next year…

“The health care section … calls for killing the Inflation Reduction Act and its drug price provisions. … It would remove many of the Affordable Care Act’s protections for pre-existing conditions.”

Reuters: “Biden, Harris hail Medicare drug price cuts that will save billions”

PBS Newshour: “Biden administration strikes deal to cut prices on some of Medicare’s costliest drugs”

USA Today: “Insulin $35 cap price now in effect, lowering costs for many Americans with diabetes”