[HUD Seal]

Statement by HUD Secretary Marcia L. Fudge on President Biden Signing the Inflation Reduction Act

WASHINGTON - U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge released the following statement after President Biden signed the Inflation Reduction Act into law:

“This is a historic moment for the Biden-Harris administration and our country.

The Inflation Reduction Act follows through on President Biden’s promise to address our nation’s climate crisis with the urgency it requires.

This act is the most significant climate legislation in U.S. history. It will reduce costs for American families and put us on track to meet our climate goals.

As Secretary of HUD, I am elated that this legislation will reduce energy costs for all families and allow owners of HUD-assisted multifamily properties to preserve tens of thousands of affordable rental homes by making them more efficient, healthier, and resilient.

This Act proves, yet again, that President Biden and this administration will take bold and aggressive action on our nation’s most pressing issues. ”