At long last, the Senate is poised to pass the budget reconciliation bill, now called the Inflation Reduction Act.
This is not the bill we wished it were, but it is a very, very good legislative package.
If enacted, the bill will make America a better place.
It will: - Empower Medicare to negotiate some drug prices for the first time.
- Cap out-of-pocket costs for many people who need insulin.
- Extend health care subsidies for millions of Americans.
- Support massive investments in renewable energy, the most far-reaching measures the U.S. has ever taken to address climate chaos.
The bill will also make corporations pay at least a 15 percent tax rate.
Sure, that may be less than you pay – but it’s a lot more than many of them are paying now!
A brand new Congressional report just showed that more than 100 large corporations paid an average tax rate of 1.1 percent in 2019.
Look, it’s true that there are serious flaws and gaps in this legislation. And there are lots of super important things that were in the original reconciliation package but not in this bill.
But the choice now is this bill or nothing.
And that’s not a hard call.
This is a very important, very good, and very progressive bill.
Tell the Senate:
Pass the Inflation Reduction Act with no delay and no harmful amendments.
Add your name.
Thanks for taking action.
For progress,
- Robert Weissman, President of Public Citizen
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