The Senate has finally passed the Inflation Reduction Act, which will help Oregonians and Americans by lowering costs.

But this bill is about more than reducing inflation. This is a good bill for families. It's a good bill for people who are on Medicare. And it's a really good bill for the fight against climate change.

Here are just a few things the Inflation Reduction Act will do:

Put America on a path to significantly reduce our carbon emissions by investing in clean energy. The bill will create good-paying jobs right here at home and give tax credits to families to make it more affordable to transition to clean energy sources and reduce families' overall energy costs.

Lower some prescription drug prices by finally empowering Medicare to negotiate. Americans pay more for prescription drugs than people in Japan, Canada, and Mexico. This bill will allow Medicare to use its negotiating power to reduce prices for certain prescription drugs.

Improve our tax code by closing loopholes and setting a corporate minimum rate. Many major corporations get away with paying zero in federal taxes. The minimum corporate tax rate will increase to 15%, so corporations will pay their fair share.

Democrats persevered, and we are delivering for the American people. I especially want to thank our Oregon Senators, Ron Wyden, and Jeff Merkley, for their advocacy.

Tomorrow I will help the House pass this legislation and send it to President Biden for his signature. We still have work to do, like addressing the need for child care and workforce development, but this is a good bill and an important step as we strive to build a better future for everyone.

Suzanne

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