|
John,
Big Corporations and Republicans in Congress are using pandemic-caused inflation―on everything from rising gas prices to the cost of food―to try and kill President Biden’s historic investment agenda that will significantly advance our goal of creating an economy that works for all of us.
With a couple of corporate Democrats (and every single Republican) standing in the way of passing President Biden’s Build Back Better Act, we’re telling senators we need this legislation because it will help working people deal with rising costs. It’ll lower taxes for working families, put money directly into the pockets of millions of people, and make big expenses like healthcare, medicines, childcare, education, and housing much more affordable.
Click here to send a message directly to your U.S. senators and tell them that they can help all Americans deal with rising costs by passing the Build Back Better Act this year!
There are two primary causes of the current inflation being felt by all Americans. Economists cite pandemic causes such as supply chain bottlenecks, worker shortages, and consumer spending shifts.
However, corporate greed is also a contributing factor. Corporations are racking up record profits by raising prices more than they need to cover higher costs. Just this year, 24 of the wealthiest oil and gas corporations have raked in a record $174 billion in profits, as gas prices climb across the U.S.[1]
To help millions of U.S. households cope with skyrocketing costs, Build Back Better will save average U.S. families thousands of dollars. It will:
-
Cap seniors’ Medicare prescription drug costs at $2,000 a year and expand Medicare to cover hearing benefits.
-
Reduce the cost of health insurance through the Affordable Care Act by an average of $600 per person per year helping 9 million people and expand coverage to 4 million more.
-
Cut childcare costs in half for most families by capping them at 7% of income and guarantee preschool for all 3- and 4-year-olds, helping parents return to the workforce.
-
Provide more than 35 million households up to $3,600 in Child Tax Credits to afford life’s necessities and expand the Earned Income Tax Credit to benefit 17 million low-wage workers.
-
Guarantee workers four weeks of paid family and medical leave so they can afford to take time off from work to attend to personal or family medical needs and care for new children.
-
Construct, rehabilitate, and improve more than 1 million affordable homes, boosting the housing supply and reducing price pressures for renters and homeowners.
-
Make college more affordable for 5 million students by increasing the maximum Pell Grant by $550.[2]
An independent review of just four of the provisions described above would save an average family of four $7,400 a year in taxes and lower costs, and save $15,000 for the average single mother with two kids.[3]
Click here to send a message directly to your U.S. senators today! Tell them to help tens of millions of working families cope with rising costs and create new economic opportunities by passing President Biden’s Build Back Better Act this year!
Thank you for fighting for this agenda for working people, which is paid for by making the rich and corporations start paying their fair share.
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “Exclusive: oil companies’ profits soared to $174bn this year as US gas prices rose,” The Guardian, Dec. 6, 2021
[2] “Fact Sheet: President Biden’s Build Back Better Plan Lowers Costs For Families And Is Fully Paid For,” Americans for Tax Fairness, Dec. 2021
[3] “What Build Back Better Means for Families in Every State,” Third Way, Dec. 1, 2021
|
