Washington, DC – Jobs With Justice applauds the Senate Democrats’ passage of their reconciliation bill known as the Inflation Reduction Act. If passed by the House of Representatives and signed into law by President Biden, the Inflation Reduction Act would:
- Reduce the cost of health care for millions by extending Affordable Care Act subsidies for three more years
- Allow Medicare to negotiate the price of prescription drugs
- Combat the climate crisis by reducing carbon pollution by 40 percent by 2030
- Lower energy costs and advancing energy security.
Adam Shah, Director of National Policy at Jobs With Justice, noted the following:
“For the last two-plus years, essential workers have risked their health and safety to fuel our economy and keep our communities safe and fed. All the while, billionaires and CEOs of America’s largest corporations – which make 670 times more than the average worker – use inflation as an excuse to undermine workers, gouge consumers, and rake-in record profits.
“It’s time to make the economy work for working people and push back against those rigging the system against working families.
“The Inflation Reduction Act passed by Senate Democrats marks a significant step forward for working people. Though far from perfect, the bill combats the skyrocketing cost of healthcare and the climate crisis, issues that disproportionately harm communities of color and those with low incomes. We especially welcome its provisions for extending Affordable Care Act subsidies, allowing Medicare to negotiate prescription drug prices, and providing $369 billion for climate and clean energy provisions, the most aggressive climate investment ever taken by Congress. It also advances fairer taxation by making large corporations and the ultra-wealthy pay their fair share. Working people benefit from a cleaner planet, better access to healthcare, and less reliance on employers for that access.
“While the final agreement still leaves out a number of key items to combat extreme economic inequality, with time running out before the fall midterms, we urge lawmakers to vote in favor of this legislation.
“Swift passage takes on added urgency in light of the troubling move by the Federal Reserve – in an attempt to slow inflation – to enact its most aggressive interest rate hike in three decades, which could trigger a devastating recession. Working people need economic relief and protection right now, not punishment and austerity. We’re counting on our elected leaders in Washington to do the right thing.
“We urge the House of Representatives to quickly pass the Inflation Reduction Act and send the bill to President Biden’s desk for his signature.
“And since the bill leaves out provisions critical to working people, Jobs With Justice will continue to fight for additional legislation that was left out of the Inflation Reduction Act, including paid leave for all, and the Protecting the Right to Organize (PRO) Act.”