Washington, D.C.— Today, Kentucky Representative John Yarmuth, Chair of the House Budget Committee, testified before the House Rules Committee in support of H.R. 5376, the Build Back Better Act. Remarks, as prepared, are below:
Members of the Committee, I am happy to be here this afternoon to continue our work on the Build Back Better Act.
The bill we are debating today is even stronger than the one I first presented to this committee last week, as we have made progress in a few areas that represent major victories for the American people. We have included the first-ever national paid family and medical leave guarantee for workers, a Medicare prescription drug negotiation provision and an out-of-pocket limit that will lower the cost of prescription drugs for millions of seniors. We have also made changes, mainly to comply with Senate rules, which my fellow Chairs can discuss in more detail.
The key components of President Biden’s framework – the most transformative investment in children and caregiving in generations; the largest effort to combat climate change in American history; the biggest expansion of affordable health coverage in a decade; the most significant effort to bring down costs and strengthen the middle class in generations; key reforms to make our tax system more equitable – are all still included in this legislation.
These essential investments, $1.75 trillion over 10 years, will overhaul and reimagine sectors of our economy and society so that everyone – not just those at the top – will benefit from a growing economy. This plan is responsibly paid for by ensuring the wealthiest Americans and most profitable corporations pay their fair share of taxes. Americans making less than $400,000 a year will not see their taxes increase by a penny.
The Build Back Better Plan is not only what America needs; it’s what American families want. This historic agenda enjoys overwhelming support from the American people, who know all too well the painful challenges facing our nation.
Any one of the major provisions in this bill is an enormous victory for the American people. Combined they represent the most consequential legislation for our country and the people we serve since the New Deal. I look forward to discussing this with you further today as we move closer to delivering truly transformative change that will benefit generations to come.
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