From Kirsten Gillibrand <[email protected]>
Subject What you need to know about the Inflation Reduction Act
Date August 8, 2022 10:06 PM
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‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌John,
Yesterday, the Senate passed the the Inflation Reduction Act —landmark legislation that lowers costs for working Americans, strengthens our economy, and marks the largest investment in our country’s history to fight climate change.
I wanted to take a moment to talk you through some of the details of this legislation. Because this bill is a big deal —and a reminder that even with an evenly divided Senate, Democrats deliver.
Lowering Health Care Costs
It’s a fact: Americans pay significantly more [[link removed]] for prescription drugs than people in other countries. Our bill will bring down health care costs by:
*
Finally
allowing
Medicare
to
negotiate
prescription
drug
prices—reducing
costs.


*
Capping
seniors’
out-of-pocket
spending
for
prescription
drugs
at
$2,000
per
year.


*
Extending
Affordable
Care
Act
subsidies
through
2025:
13
million
Americans
covered
under
the
Affordable
Care
Act
will
save
an
average
of
$800
per
year
on
their
health
insurance
premiums.


Historic Investments to Fight Climate Change
Our bill makes the largest investment—ever—in combating global climate change, lowering greenhouse gas emissions by 40 percent by 2030 [[link removed]] . Here’s how:
*
It
creates
good-paying
jobs—in
the
United
States—manufacturing
solar
panels,
wind
turbines,
and
electric
vehicles.


*
It
will
lower
families’
energy
costs
by
hundreds
[[link removed]]
of
dollars
each
year.


*
It
centers
vulnerable
and
low-income
communities,
providing
funding
for
grants
to
boost
energy
efficiency
in
affordable
housing,
improve
air
quality
monitoring,
and
to
enhance
climate
resilience.


The Inflation Reduction Act is Fully Paid For
Our bill strengthens our economy and reduces the federal deficit by making the largest corporations pay their fair share— without raising taxes on families making less than $400,000 or on small businesses.
The Inflation Reduction Act goes to the House of Representatives for a vote this week, before heading to President Biden’s desk.
And let’s not forget—the passage of this bill comes on the heels of several other hugely impactful pieces of legislation:
*
The
PACT
Act
,
my
bipartisan
legislation
to
give
health
care
to
veterans
and
service
members
exposed
to
toxic
burn
pits
in
the
line
of
duty.


*
The
CHIPS
Act
,
which
funds
domestic
semiconductor
and
advanced
microchips
manufacturing
to
strengthen
our
economy
and
national
security—paving
the
way
for
job
creation
in
upstate
New
York
and
across
the
country.


*
The
Bipartisan
Safer
Communities
Act
,
the
first
major
federal
gun
safety
legislation
in
a
generation.


Thank you for raising your voice and staying in this fight. None of this would be possible without your advocacy and support. Onwards!
With gratitude,
Kirsten
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