[ [link removed] ]Alexandria Ocasio-Cortez for Congress




On Friday, Congress officially passed the Inflation Reduction Act – a
sweeping tax, health, and climate bill.

President Biden is expected to sign the bill soon, so we wanted to take a
moment to share with you what’s in the bill and answer some FAQs.

While this bill isn’t perfect, there’s many significant wins that were
only possible as a direct result of your advocacy and support.

What will the IRA do for the climate?

👩🏼‍🔬 Create up to 9 million jobs in clean energy, clean manufacturing, and
green transportation
🌎 Reduce greenhouse gasses by 40% by 2030
💰 Dedicate $60 billion for environmental justice in communities hardest
hit by climate change and fossil fuels

How will this bill impact health care costs?

🛑 Restrict insulin costs to $35 per month for Medicare recipients
📉 Cap out-of-pocket costs for medications to a maximum of $2,000 per year
for seniors (down from the current $10,000+ a year for the costliest
drugs)
⚖️ Allow Medicare to negotiate lower prices on some prescription drugs for
seniors on Medicare starting in 2026

What are the tax implications?

👨‍👩‍👧‍👦 No new taxes on any family making $400,000 or less, and no new
taxes on small businesses (despite the lies Republicans are spewing)
💵 A 15% minimum tax rate on the wealthiest corporations
📈 1% tax on stock buybacks used to enrich wealthy shareholders

What’s next?

We've got lots of work ahead of us. We will continue to build
our power for more bold climate action, Medicare for All, and a Green New
Deal.

But affirming each step along the path is important. This was the
biggest-ever investment in fighting climate change by Congress, and there
were many steps along the way where it appeared this bill may not pass at
all. Not only did it pass, but it passed with key investments in climate
justice and green jobs – both core principles of the Green New Deal.

Thank you for all of your support and activism that’s gotten us to this
point.

Team AOC

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