Historic legislation cuts costs for health care and prescription drugs, represents largest federal investment in addressing climate change to date
NEWPORT NEWS, VA – Congressman Bobby Scott (VA-03), Chairman of the House Committee on Education and Labor, issued the following statement announcing his support for the Inflation Reduction Act:
“The Inflation Reduction Act delivers key components of President Biden and Congressional Democrats’ agenda to invest in jobs and the economy while lowering costs for working families. This legislation will lower the cost of health care, prescription drugs, and energy for millions of American families. Medicare will finally be able to negotiate for lower prescription drug prices and lower costs for seniors. The bill also builds on the success of the American Rescue Plan’s expansion of the subsidies under the Affordable Care Act to lower health costs, which helped us reach the lowest number of uninsured people ever.
“The Inflation Reduction Act also marks the single largest federal investment to address climate change and makes a critical down payment that has been long overdue. This legislation will enable us to tackle the climate crisis while advancing environmental justice, securing America’s position as a world leader in clean energy manufacturing and increasing our domestic energy supply—all while lowering energy costs for Americans. I am especially pleased that the bill includes language from the Offshore Wind American Manufacturing Act, which I co-led with Representatives A. Donald McEachin and Elaine Luria to turbo charge the growth of offshore wind off Virginia’s coast and create good family-sustaining jobs here in Hampton Roads.
“As Chairman of the Committee on Education and Labor, I am also encouraged by the permanent extension of the black lung excise tax, which expired at the end of 2021, particularly given the recent rise in the most severe form of black lung disease. The extension will fund future benefits and health care for miners in southwest Virginia and across coal country who are suffering from black lung disease. Extending the tax will also protect the long-term sustainability of the Black Lung Disability Trust Fund while ensuring that the coal industry does not shift the cost of benefits from coal companies to miners, their families, or the taxpayer.
“Lastly, this legislation makes sure that the largest corporations pay their fair share in taxes. The bill would significantly slash the federal deficit over the next decade, building on the deficit reduction already achieved by President Biden and Congress. The Inflation Reduction Act is a significant win for the American people. The IRA’s passage—after the enactment of the American Rescue Plan, the Biden Infrastructure Law, and the CHIPS and Science Act—puts our nation on the best path for the strongest economic recovery from the pandemic and invests in our future. These legislative accomplishments are helping us confront inflation and climate change and have laid the groundwork to ensure that America’s economy is set up for success for years to come. I look forward to joining my colleagues in the House on Friday in sending the Inflation Reduction Act to President Biden’s desk.”
Austin Barbera, (202) 225-8351
Go to Source