Dear Friends,

I am writing to you with fantastic news. With my support, the House just passed the Inflation Reduction Act of 2022, which will reduce the price Americans pay for prescription drugs, help combat climate change with the single largest green energy investment ever, and extend Affordable Care Act subsidies to bring down healthcare costs for millions of Americans. Best of all, it’s completely paid for and will reduce the deficit by more than $300 billion over the next ten years by closing loopholes in our tax code to ensure that the biggest corporations finally pay their fair share.

Some key provisions included in the Inflation Reduction Act would:

• Invest almost $400 billion in fighting climate change which is cooking our planet, enabling the United States to cut greenhouse gas emissions by 40 percent from 2005 levels by 2030;
• Empower Medicare to negotiate prescription drug prices and cap out-of-pocket costs, saving money for everyday Americans;
• Close tax loopholes for billion-dollar companies, while ensuring small business owners don’t see new taxes, to ensure a level playing field;

This bill is a critical investment in our economy and our future, and a massive win for Connecticut families. I look forward to seeing it go to the President’s desk to be signed into law.

Sincerely,

Jim