Rep. Jamaal Bowman Votes Yes on and House Passes Inflation Reduction Act

 

The House passed the Inflation Reduction Act, a reconciliation package of climate, healthcare, and tax measures to strengthen our economy and bring down costs for people in America. Congressman Jamaal Bowman, issued the follow statement following the bill’s passage: 

 

“Many people cannot afford basic necessities to live, and many more are just one missed check or unexpected expense away from a financial catastrophe. The cost of housing, child care, groceries and transportation is astronomical without considering other necessary expenses such as life-saving medicines like insulin,” said Congressman Jamaal Bowman. “The Inflation Reduction Act - sets us on the right path. We’re empowering Medicare to negotiate lower prescription drug prices for seniors and people with disabilities. We’re making long-needed improvements to IRS enforcement and closing tax loopholes that the ultra-wealthy have taken advantage of without accountability. Billion-dollar corporations will start paying a 15 percent corporate minimum tax and a 1 percent tax on corporate stock buybacks - which marks essential progress towards making corporations pay their fair share. With this bill, we’re significantly investing in the clean energy transition. Together, these measures will reduce inflation by centering people and community wellness. Progressives championing issues central to the people is how House Democrats were able to pass the Build Back Better Act. The House-passed Build Back Better Act of 2021 is why we have the Inflation Reduction Act heading to the President’s desk for signature today. It is a start, and we have more work to do to fully respond to the cost of living crisis.  People deserve lower insulin prices and lower drug prices in general, including if you have private health insurance.  We need to protect frontline communities from fossil fuel pollution, and finally end our dependence on oil, gas, and coal. Our work continues to deliver affordable, quality housing, child care, and education, a $15 minimum wage, immigration justice, and more. As we celebrate the progress made today, we recommit to addressing every priority in Build Back Better and more.”