Citizen Action Applauds Senate Passage of Historic Climate Change, Health Care, and Tax Fairness Legislation
For Immediate Release: August 7, 2022
Contact: Robert Kraig (414) 322-5324, [email protected]
Milwaukee: Citizen Action applauded the passage in the U.S. Senate of the Inflation Reduction Act of 2022 on Sunday afternoon by a 50-50 vote (with VP Kamala Harris casting the deciding vote).
The legislation is the first climate change bill in American history actually up to the scale of the problem. With the deadline of 2030 to reduce greenhouse emissions by 45%, the legislation puts the U.S. on track for the first time to meet its vital climate commitment. The legislation invests $369 Billion in preventing runaway climate change, reducing greenhouse emissions by an estimated 40% by 2030.
The legislation also makes necessities such as health care and energy more affordable, helping to address rising prices for working and middle class families. The legislation prevents a large price increase scheduled for Affordable Care Act marketplace plans for 2022, and for the first time authorizes Medicare to negotiate with big drug companies over prices.
Its large-scale climate investments will also reduce energy prices by replacing fossil fuels which can be manipulated by Big Oil and by foreign dictators with much more affordable clean energy. It invests in the necessary conversion to Electric Vehicles (EVs) which cost consumers 80% less than gasoline for conventional automobiles.
Finally, the legislation forces billionaires and multinational corporations to pay more of the fair share in taxes, by implementing a 15% minimum tax on all booked profits for large companies.
“Taken together, the breakthroughs on climate, health care, and tax fairness in the Inflation Reduction Act are one of the greatest legislative breakthroughs of the last half century,” said Robert Kraig, Executive Director of Citizen Action of Wisconsin. “While this is a great accomplishment in an evenly divided U.S. Senate, it also gives voters a down payment of even greater advances than can be made in 2023 if we can elect more progressives to Congress and create a true governing majority.”