Dear John,
Right now, we have a real chance to reduce prescription drug prices. Americans pay three times more for their prescription drugs than people in other countries. The Inflation Reduction Act will give Medicare the authority to negotiate prescription drug prices, and millions of Medicare beneficiaries could see their prescription drug costs go down. This bill will save Americans $800 on average per year on their health insurance premiums.
In addition, it will improve our energy security and tackle our climate crisis – by providing tax credits and investments for energy projects, and creating thousands of new jobs and helping lower energy costs in the future.
We will pay for all of this by requiring big corporations to pay their fair share of taxes, with no tax increases for families making under $400,000 a year. Overall, the legislation would decrease the federal deficit by $102 billion over the next decade, according to the Congressional Budget Office.
It's time for Congress to put families first and pass this legislation right away.