On behalf of the AFL-CIO, I urge you to support the Inflation Reduction Act passed by the Senate earlier this week and scheduled for House floor consideration this Friday. By making historic investments in domestic energy production and manufacturing, bringing down the cost of prescription drugs and expanding coverage under the Affordable Care Act, this bill offers our country a real chance to build a safer, healthier, and cleaner future. Further, this bill delivers on the promise of economic fairness by fixing our tax system so the extremely wealthy and the biggest corporations pay their fair share.
The Inflation Reduction Act will dramatically lower the cost of clean energy, positioning the U.S. to make deep carbon emission reductions, while preserving and creating millions of family supporting jobs, and manufacturing more critical technology here at home. The package also initiates major health care reforms by authorizing Medicare to tackle the skyrocketing cost of prescription drugs and preventing premium hikes for 13 million Americans covered under the Affordable Care Act. Finally, the bill provides much needed reform to our tax system, which has allowed the mega-rich and the biggest corporations to pay far too little for far too long.
The Inflation Reduction Act will accomplish what the title promises. Rather than blaming working people for inflation, this bill will fight inflation and lower costs for American families while setting the stage for strong, stable, and broadly-shared long-term economic growth. According to experts, this legislation is not only fully paid for, but will put downward pressure on inflation by cutting the cost of health care and energy for millions of Americans.
While we enthusiastically support this bill, we urge Congress to keep working to deliver further relief that people need, including bolstering the right to organize and help accessing critical supports like child care and education.
Elizabeth H. Shuler