[ [link removed] ]Katie Porter for Congress

John,

Yesterday the Senate passed the Inflation Reduction Act, a monumental
piece of legislation that will lower prescription drug prices, address
climate change, and make a historic down payment on the federal deficit to
fight inflation. This is funded through new taxes on the largest
corporations.

Katie has spent her time in Congress pushing for these pieces of
legislation. This week she’ll be proud to vote for its passage in the
House before it moves to President Biden’s desk to be signed into law.
Here’s what’s included:

Lower drug prices and affordable healthcare.

* Medicare will be legally allowed to negotiate drug prices, lowering
the cost of some of the most commonly used prescriptions.
* Caps out of pocket drug costs to $2,000 per year for those on
Medicare.
* Reduces the cost of Affordable Care Act healthcare premiums for
millions of Americans.

Action on climate change: allowing us to lower emissions by 40% by 2030.

* Investments in renewable energy—think solar panels and wind turbines.
* Electric vehicle and home energy tax credits.
* Funding for drought resiliency.

A more fair tax code.

* A 15% minimum tax on corporations making $1 billion or more in a year.
This alone is estimated to bring in $300 billion in new revenue. 
* A 1% tax on stock buybacks.
* Funding the IRS, allowing them to hold ultra-wealthy tax-cheats
accountable.
* Importantly, there are no new taxes on families making $400,000 or
less per year.

This historic legislation will lower costs for families and finally allow
us to address climate change in a real and meaningful way. 

But Katie’s to-do list is still long, and she’s still focused on our
competitive re-election campaign so Democrats can continue this work.
[ [link removed] ]With less than 100 days until the election, consider pitching in.

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Thanks for reading,

Team Porter

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|Katie is running for re-election in California’s 47th district, which |
|includes Irvine and coastal Orange County. This purple district contains|
|an equal number of Democrats and Republicans and is a must-win for |
|Democrats. Consider pitching in today so we have the resources to keep |
|Katie in Congress fighting for working people. |
| |
| [ [link removed] ]Donate ››› |
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