REMINDER: Every Single Republican Voted Against Lowering Costs for Americans
August 16, 2022
As President Joe Biden signs the Inflation Reduction Act into law today, let’s not forget that every single House and Senate Republican voted against lowering prescription drug costs, going after tax cheats, and reducing the federal deficit.
You read that right: Every single congressional Republican sided with Big Pharma over the American people — and 43 Senate Republicans actually went out of their way to block an amendment that would cap out-of-pocket insulin costs at $35 for millions of Americans on private insurance.
Washington Post: “Republicans block cap on insulin costs for millions of patients”
The Inflation Reduction Act will drive down costs by allowing Medicare to directly negotiate the price of prescription drugs for the first time, yet not a single GOP lawmaker crossed the aisle to help middle-class families.
New York Times: “The package would cap the out-of-pocket costs that seniors pay annually for prescription drugs at $2,000, and would ensure that seniors have access to free vaccines.”
CNBC: “Medicare is poised to renegotiate the prices of some of its most expensive drugs through a historic expansion of its power, which could reduce costs for many seniors as well as federal spending on its prescription drug plan.”
Republicans have made clear that they would rather protect wealthy tax cheats than help reduce the national deficit. Let’s be clear: The Inflation Reduction Act will ensure that corporations and the ultra-wealthy pay their fair share in taxes. Americans making less than $400,000 a year will not see increased audit rates or higher tax rates.
Associated Press: “Nothing in the bill raises taxes on people earning less than $400,000… There are no individual tax rate increases for anyone in the bill, experts say.”
CNBC: “IRS Commissioner Charles Rettig said the [IRA] funding would not increase audits of households making less than $400,000 per year.”
Don’t just take it from us — experts say the Inflation Reduction Act will help middle-class families by making sure that Americans get their tax refunds faster. GOP policies starved the IRS of the resources to upgrade its outdated IT, but the Inflation Reduction Act will allow the agency to process tax returns more quickly and efficiently.
Washington Post: “The most immediate benefit for American families, according to experts: faster tax refunds and more responsive IRS agents, thanks to… additional funding to the Internal Revenue Service over 10 years.”
While President Joe Biden and congressional Democrats stay laser-focused on bringing down costs for families, Republicans are siding with Big Pharma and wealthy tax cheats instead. The American people do not want their extreme agenda.