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John,
I just met with President Biden as he prepares to speak at the White House to celebrate the recent passage of the Inflation Reduction Act.
The President is getting ready to speak at 3pm ET about what we accomplished together. If you have a few minutes to join us, click here to tune in!
Here’s a look at what the historic Inflation Reduction Act will achieve:
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Finally allowing Medicare to negotiate lower prescription drug prices
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Placing a cap on seniors’ out-of-pocket prescription drug costs and on Insulin costs
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Lowering health insurance premiums for 13 million people who get insurance through Affordable Care Act exchanges
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Increasing the production of clean energy to combat the climate crisis
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Lowering home energy costs for working families and seniors
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Strengthening tax enforcement by the IRS to crack down on wealthy and corporate tax cheats
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Requiring billion-dollar corporations to pay at least a 15% federal income tax, so they no longer get away with paying a lower tax rate than nurses, firefighters, and teachers
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Accomplishing all of this while not raising taxes on anyone earning less than $400,000 a year or on small businesses
This law is fully paid for and even reduces the federal deficit by about $300 billion. Thanks to your hard work demanding that Congress finally start unrigging our tax code, great progress has been made.
Click here to tune in to watch President Biden, Speaker Pelosi, Majority Leader Schumer and more, discuss how the Inflation Reduction Act combats the climate crisis, lowers healthcare costs for seniors and working people, and is paid for by making the rich and corporations pay a fairer share of taxes.
While there is much more work to do―from passing a Billionaires Income Tax to ensuring Wall Street traders are paying their fair share―today is a day to celebrate what we’ve accomplished together.
Thank you for all that you continue to do to fight for an economy and tax system that works for everyone, not just the wealthy few.
Frank Clemente
Executive Director
Americans for Tax Fairness
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