[Congressional Record Volume 168, Number 143 (Wednesday, September 7, 2022)]
[Senate]
[Page S4452]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                        Inflation Reduction Act

  Mr. President, on Democratic results, the Inflation Reduction Act was 
signed into law less than a month ago and already the verdict is in. 
Our bill is already creating new investments, new jobs, new 
opportunities for American families--jobs here in America, not 
overseas.
  Let me repeat the good news. The Inflation Reduction Act that every 
Republican voted against is already delivering for our country.
  This morning, the New York Times reported that in the wake of the 
Inflation Reduction Act, a whole host of companies ``have announced a 
series of big-ticket projects to produce the kind of technology the 
legislation aims to promote.''
  For example, companies like Toyota have announced billions in new 
investments to start manufacturing batteries for electric and hybrid 
vehicles right here in America. Elsewhere, the company First Solar 
announced a $1 billion investment to build new solar manufacturing 
facilities in the Southeast. Their CEO is explicit that their decision 
hinged in large part on our legislation, saying it provided ``a level 
of clarity'' that made investment in the United States the right move.
  The examples go on. Honda and LG Energy also recently announced over 
$4 billion for EV battery production in the United States. Panasonic, 
which supplies parts to Tesla's EV production, said they are also 
considering $4 billion to build another EV battery plant. And thanks to 
tax incentives we passed recently that specifically reward domestic 
battery production, Samsung has decided to accelerate plans to break 
ground on their own EV battery plant in the next few months in the 
United States.

  These are just a few examples of how the Inflation Reduction Act is 
already delivering on its promise to create countless new jobs and 
ignite billions in private sector investment and pave the way for 
America to lead the future with cheap and reliable clean energy.
  Had we not done this, these plants probably would have been built, 
most of them overseas. As electric vehicles become predominant 
throughout our country and the world, America would have lost out. We 
led the world in auto production in the 20th century, and because of 
this act and what Democrats, without a single Republican vote, have 
done, we are going to lead in the 21st century as well.
  It is exciting and gratifying to know that millions of Americans will 
be employed in good-paying jobs, in jobs that have a real future.
  All of this is the result of Democratic leadership keeping its 
promise to the American people. Again, I have to say, this kind of 
thing used to happen when Democrats and Republicans came together. It 
is shameful that not a single Republican voted with us to pass these 
investments--not one.
  And, of course, I would also be remiss not to highlight all the ways 
that the CHIPS and Science Act is sparking a new wave of investment as 
well. Just recently, the CEO of Micron announced a $15 billion 
investment in manufacturing last week, saying that the CHIPS and 
Science Act ``made this investment decision possible.''
  And Micron has committed to significantly more and even larger 
investments to come, I am happy to say.
  When you pass good legislation, you get good results.
  It has been a long time, sadly, since the American people have felt 
that Washington is capable of doing big things to meet big challenges. 
After 4 years where President Trump spent all of his time, it seems, 
just being nasty and negative and calling people names but never making 
promises and never getting anything concrete done, Democrats are 
actually delivering with real results.
  Senate Democrats have shown that with the right people in office, 
government can work to promote, not hinder, the well-being and security 
of the American people. It is why we took on Big Pharma and won. It is 
why we took on entrenched oil interests and won. It is why we took on 
the NRA and beat them by passing the first gun safety law in decades. 
And all of this is the result of Democrats following through on our 
promise.
  While the junior Senator from Florida continues to promote tax hikes 
for working families and putting Medicare on the chopping block, 
Democrats want to cut costs for families, increase prosperity, continue 
to strengthen ladders for people to get into the middle class and give 
them the stability to say that, once they are there, they are going to 
stay there.
  Democrats have given America hope in the future, that in the new 
industries and new ways of thinking and new sciences, we are going to 
lead, not follow, not lag behind, not spend time, as President Trump 
did most of his time, playing petty political games and never getting 
anything done. We are getting stuff done--big stuff, important stuff, 
stuff that gives us a brighter future. That is why we work so hard to 
pass our agenda and, already, it is clear the American people are 
feeling the benefits.
  I yield the floor.
  I suggest the absence of a quorum.
  The ACTING PRESIDENT pro tempore. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The ACTING PRESIDENT pro tempore. Without objection, it is so 
ordered.