The Inflation Reduction Act

16 Aug

The Inflation Reduction Act will lower costs for families, combat the climate crisis, reduce the deficit, and finally ask the largest corporations to pay their fair share. President Biden and Congressional Democrats have worked together to deliver a historic legislative achievement that defeats special interests, delivers for American families, and grows the economy from the bottom up and middle out.

Here’s how the Inflation Reduction Act impacts Americans by the numbers:

HEALTH CARE

Cutting Prescription Drug Cost

  • Today, Americans pay two to three times what citizens of other countries pay for prescription drugs
  • 5-7 million Medicare beneficiaries could see their prescription drug costs go down because of the provision allowing Medicare to negotiate prescription drug costs.
  • 50 million Americans with Medicare Part D will have the peace of mind knowing their costs at the pharmacy are capped at $2,000 per year, directly benefiting about 1.4 million beneficiaries each year.
  • 3.3 million Medicare beneficiaries with diabetes will benefit from a guarantee that their insulin costs are capped at $35 for a month’s supply.

Lowering Health Care Costs

  • 13 million Americans will continue to save an average of $800 per year on health insurance premiums
  • 3 million more Americans will have health insurance than without the law.
  • The uninsured rate is at an all-time low of 8%, which the historic law will build on.

Defeating Special Interests

  • $187 million: The amount the Pharmaceutical industry has spent on lobbying in 2022.
  • 1,600: number of lobbyists the pharmaceutical companies had in 2021 – three times the number of Members of Congress
  • 33 years: the amount of time Congressional Democrats have been trying to lower prescription drug costs by allowing Medicare to negotiate drug prices.
  • 19 years: number of years Medicare has been blocked from negotiating prescription drug costs

CLEAN ENERGY

Lowering Energy Costs

  • Families that take advantage of clean energy and electric vehicle tax credits will save more than $1,000 per year.
  • $14,000 in direct consumer rebates for families to buy heat pumps or other energy efficient home appliances, saving families at least $350 per year.
  • 7.5 million more families will be able install solar on their roofs with a 30% tax credit, saving families $9,000 over the life of the system or at least $300 per year.
  • Up to $7,500 in tax credits for new electric vehicles and $4,000 for used electric vehicles, helping families save $950 per year.
  • Putting America on track to meet President Biden’s climate goals, which will save every family an average of $500 per year on their energy costs.

Building a Clean Energy Economy

  • Power homes, businesses, and communities with much more clean energy by 2030, including:
    • 950 million solar panels
    • 120,000 wind turbines
    • 2,300 grid-scale battery plants
  • Advance cost-saving clean energy projects at rural electric cooperatives serving 42 million people.
  • Strengthen climate resilience and protect nearly 2 million acres of national forests.
  • Creating millions of good-paying jobs making clean energy in America.

Reducing Harmful Pollution

  • Reduce greenhouse gas emissions by about 1 gigaton in 2030, or a billion metric tons – 10 times more climate impact than any other single piece of legislation ever enacted.
  • Deploy clean energy and reduce particle pollution from fossil fuels to avoid up to 3,900 premature deaths and up to 100,000 asthma attacks annually by 2030.

TAXES

Making the Tax Code Fairer

  • $0: how much some of largest, profitable corporations pay in federal income tax.
  • 55: the number of America’s largest, wealthiest corporations that got away without paying a cent in federal income taxes in 2020.
  • $160 billon: how much the top 1 percent of earners is estimated to evade each year in taxes.
  • 15%: the minimum tax on corporate profits the Inflation Reduction Act imposes on the largest, most profitable corporations.
  • $124 billion: savings over 10 years the Inflation Reduction Act will generate from collecting taxes already owed by wealthy people and large corporations, according to the Congressional Budget Office.
  • And no family making less than $400,000 will see their taxes go up a penny.

Reducing the Deficit

  • The Inflation Act will achieve hundreds of billions in deficit reduction.
  • The deficit is projected to fall by more than $1.5 trillion this year after falling by more than $350 billion last year.
  • 126 leading economists – including 7 Nobel Laureates, 2 former Treasury Secretaries, 2 former Fed Vice Chairs and 2 former CEA Chairs – have said reducing the deficit will help fight inflation and support strong, stable economic growth.

###

The post The Inflation Reduction Act appeared first on Democrats.

NOT SO HAPPY BIRTHDAY: Dems Highlight GOP Plans to Cut Social Security Around Anniversary

14 Aug

As Social Security turns 87 today, Democratic state parties across the country held press events with seniors Friday highlighting Republicans’ proposed cuts to Medicare and Social Security. While Republicans are putting seniors’ hard-earned benefits on the chopping block, Democrats are taking on special interests, lowering prescription drug costs for seniors, and continuing to protect Medicare with the Inflation Reduction Act. 

Here’s a look at some of the coverage:

Florida: WFLA: Florida Democrats mark the 87th anniversary of Social Security

Key Point: “As the House prepares to vote on the Inflation Reduction Act, Florida Democrats calling out what they say are Republican efforts to jeopardize Social Security and Medicare. Congresswoman Debbie Wasserman-Schultz is calling out a GOP plan to sunset the two benefits every 5 years.”

Michigan: CBS Lansing: MI Dems Call out GOP Plans to Cut Social Security

Key Point: “‘These benefits allow seniors and disabled workers, widows, widowers, and others to receive important federal support. And threatening to take away these programs that so many hard working people rely on is a slap in the face to Michiganders who spent years paying into them.’”

Wisconsin: WisPolitics: WisDems: Older Wisconsinites blast Ron Johnson, GOP for threatening Social Security and Medicare funding

Key Point: “On Friday, older Wisconsinites from across the state blasted Ron Johnson and his Republican allies for threatening Medicare and Social Security funding after he recently advocated to allow Congress to cut these programs, despite older Wisconsinites paying into programs for decades so they could retire with financial security.”

The post NOT SO HAPPY BIRTHDAY: Dems Highlight GOP Plans to Cut Social Security Around Anniversary appeared first on Democrats.

IN THE STATES: DNC Makes New Investments in Democrats Across the Country

10 Jun

In the states this week, the DNC announced new investments in Democratic state parties across the country, which will fund state-specific programs for organizing, field, and voter protection to help Democratic candidates compete up and down the ballot this November. 

Also this week, local headlines continued to highlight House Republicans’ vote against a bill to address the baby formula shortage and the GOP plan that could end the Medicare and Social Security guarantee, while Democrats continue working to get formula on shelves and cut costs. 

The Biden-Harris administration announced the first four states to receive broadband funding from the American Rescue Plan’s $10 billion Capital Projects Fund, which will help bring down internet costs and ultimately expand access to affordable high speed internet  for the millions of Americans who  currently lack it. 

Democrats’ American Rescue Plan continued to cut costs and put money back in people’s pockets in other ways as well, from helping to make housing more affordable to lowering water bills, while President Biden’s Bipartisan Infrastructure Law is making investments that will bolster supply chains. 

The post IN THE STATES: DNC Makes New Investments in Democrats Across the Country appeared first on Democrats.

LOCAL HEADLINES: Biden Helps Make High Speed Internet More Affordable

7 Jun

Families across New Hampshire, Louisiana, Virginia, and West Virginia are going to get more accessible and affordable internet service thanks to President Biden and Democrats’ American Rescue Plan. This morning, the Biden-Harris administration announced the first four states to receive broadband funding from the American Rescue Plan’s $10 billion Capital Projects Fund, which will help bring down internet costs and ultimately expand access to affordable high speed internet for the millions of Americans who currently lack it. 

This is only the latest move by President Biden to help cut internet costs. The president’s Bipartisan Infrastructure Law includes $65 billion to expand affordable broadband access, and many states have used additional funding from the American Rescue Plan to make it easier and more affordable to access the internet. 

Here’s a look at some of the local coverage of President Biden’s latest push to lower costs: 

New Hampshire

West Virginia

Virginia

Louisiana

The post LOCAL HEADLINES: Biden Helps Make High Speed Internet More Affordable appeared first on Democrats.

DNC, DSCC, DCCC, & ADP Statement on Winning Arizona Voting Rights Case

6 Jun
KTAR: Judge rejects Arizona Republican Party effort to eliminate most mail-in voting
Today, the Democratic National Committee, the Democratic Senatorial Campaign Committee, the Democratic Congressional Campaign Committee, and the Arizona Democratic Party released statements after successfully intervening against the Arizona Republican Party’s legal action seeking to end early and absentee voting in Arizona –  a dominant form of voting in the state. 

A Superior Court in Mohave County ruled against the GOP’s lawsuit this afternoon. Earlier this year Arizona’s state Supreme Court also dismissed the Republicans’ lawsuit.

From Sam Cornale, DNC Executive Director:

“Wins like this are possible because Democrats are standing up against Republican attacks on Americans’ fundamental right to vote. Today’s decision is a victory for Arizonans and for our democracy, and we will continue to work so that every eligible voter can make their voice heard.”

From Christie Roberts, DSCC Executive Director: 

“Democrats will always fight to protect the right to vote and stand against Republicans’ unreasonable, politically motivated attacks on Americans’ democratic rights. Today’s decision is a victory for voting rights in Arizona and across the country.”

From Tim Persico, DCCC Executive Director:

“Despite Arizona Republicans’ cynical attempts to undermine Arizonans’ access to the ballot box for their own political benefit, the voters prevailed. Today’s decision sends a clear message to the MAGA crowd in Arizona and nationwide: you may need to revise your cheat-to-win strategy.”

From Raquel Terán, Arizona Democratic Party Chair:

“Arizona Democrats defended democracy and won, striking down the AZ GOP’s shameful, embarrassing, and unconstitutional effort to try and end early voting in our state. To the 89% of AZ voters who vote early, we are with you, and we will never stop defending your right to cast your ballot in Arizona’s long-standing safe, secure, and trusted electoral system.” 

Additional background: 

Arizonans have been voting using absentee or early ballots for nearly 100 years, and it has become the dominant means by which Arizonans vote by a wide margin. The vast majority – nearly 90% in the 2020 election – vote by early ballot.

Arizona’s Constitution explicitly guarantees the right to vote, with the only procedural limits being that votes must be cast “by ballot” or any “other method” authorized by the Legislature. 

The Republicans’ proposal would itself violate the Arizona Constitution. And it would effectively invalidate all of the legislature’s laws governing any type of voting other than in-person election day voting – laws that the Legislature has been enacting in one form or another since 1925.

The impact of this Republican proposal would also create enormous challenges for Arizona’s election administration and for Arizonans – including military, tribal and younger voters in school – who live far away from a polling location.

The post DNC, DSCC, DCCC, & ADP Statement on Winning Arizona Voting Rights Case appeared first on Democrats.

IN THE STATES: As Democrats Take Action, GOP Take Heat on Formula Shortage

3 Jun

In the states this week, with Congress home for recess, Republican House members are on defense over their votes against a bill to ensure FDA has the resources they need to address the infant formula shortage and help make sure it doesn’t happen again.

Meanwhile, local headlines touted President Biden and Democrats’ decisive action to help make sure families can find and afford formula. In the past few weeks alone, President Biden launched Operation Fly Formula to speed up the import of infant formula, invoked the Defense Production Act,  helped put a plan in place to reopen Abbott Sturgis facility, and issued FDA guidance to allow major formula manufacturers to safely import formula that is not currently being produced for the U.S. market.

And the Biden-Harris administration announced more than $360 million to bolster rail infrastructure and supply chains, driving local headlines about the major investments that President Biden is making to get goods moving again and lower costs. 

The post IN THE STATES: As Democrats Take Action, GOP Take Heat on Formula Shortage appeared first on Democrats.

LOCAL NEWS: Biden Bolsters Local Rail Supply Chains

2 Jun

Today, the Biden-Harris administration announced more than $360 million to bolster rail infrastructure and supply chains, driving local headlines about the major investments that President Biden is making to get people and goods moving again. Strengthening our supply chains and getting goods on shelves more quickly is one of many ways that President Biden is working to lower costs. 

Here are some local headlines from across the country on how President Biden is investing in rail and strengthening our supply chains: 

The post LOCAL NEWS: Biden Bolsters Local Rail Supply Chains appeared first on Democrats.

LOCAL NEWS: Republicans Side with NRA, Gun Lobby Over Children

26 May

Just days after a gunman murdered 21 people in Texas, Republicans across the country are making clear that when it comes to our children or the gun lobby, they’ll pick the gun lobby every time. Whether it’s Donald Trump and Republican leaders speaking at an NRA meeting this weekend in the wake of the shooting or GOP members of Congress taking millions from the NRA and blocking life-saving gun safety measures, the Republican party has made clear where they stand.

Here are some local headlines from across the country on the GOP siding with the gun lobby over children: 

The post LOCAL NEWS: Republicans Side with NRA, Gun Lobby Over Children appeared first on Democrats.

LOCAL NEWS: President Biden’s Operation Fly Formula Delivers

23 May

Yesterday, the first flight from President Biden’s Operation Fly Formula transported Nestlé S.A. formula from Zurich, Switzerland to Plainfield, Indiana. President Biden launched Operation Fly Formula to speed up the import of infant formula and start getting more formula to stores as soon as possible. 

This builds on several additional actions by President Biden to ensure there is enough safe infant formula for American families, including invoking the Defense Production Act, working with the FDA to reopen an Abbott Nutrition plant, and issuing new guidance to allow major formula manufacturers to safely import formula that is not currently being produced for the U.S. market.

Here’s what Hoosiers were reading over the weekend about the first flights from Operation Fly Formula touching down:

Indianapolis Star:Fulfilling ‘critical need,’ military plane delivers infant formula from Europe to Indy

“‘This means a lot not only for our little one but also for so many others that are really banking on this to help provide meals for their kids,’ Megan Gendig said […] The formula that arrived Sunday will help some of those hardest hit by the formula shortage, said Dr. Emily Webber, a pediatrician and Riley Hospital for Children’s chief medical information officer.”

Fox 59:78,000 pounds of infant formula arrives in US

“A military plane carrying enough specialty infant formula for more than half a million baby bottles arrived Sunday in Indianapolis, the first of several flights expected from Europe aimed at relieving a shortage that has sent parents scrambling to find enough to feed their children. President Joe Biden authorized the use of Air Force planes for the effort, dubbed ‘Operation Fly Formula,’ because no commercial flights were available.”

WTHR:Nestlé baby formula shipment arrives in Indianapolis

“Biden authorized the use of Air Force planes for the effort, dubbed ‘Operation Fly Formula,’ because no commercial flights were available. Agriculture Secretary Tom Vilsack was in Indianapolis Sunday to greet the arrival of the first shipment of formula.”

WRTV:78,000 lbs of infant formula arrive in Indianapolis

“A plane from Ramstein Air Base in Germany brought the formula. President Joe Biden launched Operation Fly Formula to speed up the import of infant formula and start getting more formula to stores as soon as possible. According to the White House, this formula will be distributed to doctors office and pharmacies and not store shelves.”

WANE:Pallets of baby formula arrive at Indianapolis Intl. Airport Sunday morning

“Last week, US President Joe Biden invoked the Defense Production Act to prioritize the shipment of basic supplies to American baby food makers and streamline the process for bringing in formula from overseas.”

Wish TV: Formula planes arrive at Indianapolis International Airport

“The first baby formula flights from Germany are headed to Indianapolis, and should get to the Indianapolis International Airport Sunday morning […] The hope is this will help with formula shortage in Indiana.”

963 XKE:First batch of baby formula arrives in U.S. from Germany

“The first batch from Operation Fly Formula landed in Indiana yesterday aboard an Air Force C-17 cargo plane from Germany. The 78,000 pounds of Nestle infant formula is the equivalent of more than a million-and-a-half eight-ounce bottles.”

The post LOCAL NEWS: President Biden’s Operation Fly Formula Delivers appeared first on Democrats.

PHOTOS: DNC Chair Harrison Hosts Listening Session with Haitian and Latino Community Leaders in Florida

20 May
Today, Democratic National Committee Chair Jaime Harrison traveled to Miami, Florida to host a listening session with Haitian and Latino community leaders and the Florida Democratic Party. During the events Chair Harrison highlighted that while Republicans like Ron Desantis, Marco Rubio and Rick Scott are focused only on pushing their extreme MAGA agenda – including a plan that could end the guarantee to Social Security and Medicare, raising health care costs, and banning abortion with no exceptions for rape and incest – President Biden and Democrats are fighting to lower costs for working Americans and protect reproductive freedom for all.

Please see below for photos from the event:
Building on the DNC’s 57-state-and-territory strategy, these events are the latest in Chair Harrison’s community engagements across the South this week, which includes stops in Little Rock, Arkansas; Orlando and Miami, Florida; and Robeson County, North Carolina with rural, LGBTQ, youth, Latino, Black, AAPI, and Native community members.
 
This community outreach comes as the DNC has committed more resources earlier than ever in a robust 57-state-and-territory strategy to invest in strong long-term party infrastructure. So far this cycle, the DNC has made almost $50 million in commitments and contributions to states for party-building and electoral programs. As part of this investment, the DNC and state parties last year announced a historic agreement to increase the DNC’s monthly State Party Partnership (SPP) funding by 25% and create a first-of-its-kind Red State Fund to invest in Democratic state parties’ efforts to sustain long-term programs in traditionally Republican states.

The post PHOTOS: DNC Chair Harrison Hosts Listening Session with Haitian and Latino Community Leaders in Florida appeared first on Democrats.