The Inflation Reduction Act Will Create Jobs, Slow Inflation, and Lower Prescription Drug Costs for Seniors
(From CWA National Website)
The Inflation Reduction Act, introduced in the Senate last week, is a major step toward lowering the cost of living for working families, while creating good jobs across the country and making sure that corporations finally pay their fair share of taxes.
The bill will allow Medicare to negotiate the prices of prescription drugs, saving seniors an average of $800 per year. In addition, it will create thousands of new green energy jobs with strong Buy American protections and provide significant home energy rebate programs so families can make their homes more energy efficient and save money in the process.
The bill funds these programs through a 15% corporate minimum tax and closes the notorious “carried interest” loophole, which allows executives at private equity and hedge funds, who routinely push for job cuts for CWA members, to pay a lower tax rate than anyone else pays for their earned income.
Corporate lobbyists are fighting hard to stop the bill so that executives and wealthy shareholders can continue to boost profits by dodging taxes.
Make sure your Senators hear from you! Click here to tell your Senator to vote yes on the Inflation Reduction Act and support working families.
