Congressman Dwight Evans (D-PA-3rd) will vote today for the landmark Inflation Reduction Act, which is designed to deliver lower costs for energy and health care; fight inflation; and take massive steps on climate change and affordable clean energy.

“This is a historic day! This bill will lower families’ kitchen-table costs, and create millions of good-paying jobs as we deliver the most significant U.S. action on climate in history – restoring American leadership on climate and taking a major step to save current and future generations from the worst effects of climate change,” Evans said. “This House vote is the last vote needed to send this bill to President Biden so he can sign it into law.”  

Evans spotlighted some key parts of the bill:

• Extending help with the cost of health insurance: The bill extends enhanced Affordable Care Act subsidies for 13 million Americans for three years, to 2025. The average enrollee will save an estimated $800 per year on premiums. “Thanks to Obamacare, the uninsured rate is at a record LOW, and the subsidy extension will prevent an estimated 3 million people from becoming uninsured,” Evans said.

“This fits well with the recent agreement to keep Chestnut Hill Hospital open. I and state Senator Art Haywood are urging the state attorney general and the Tower Health bond holders to approve that agreement. I want ‘No More Hahnemanns!’ – and part of keeping our hospitals open is making sure they get paid for the care they provide. So helping people keep their coverage is also vital for our hospitals, their employees and the communities they serve,” Evans said.

• Reconnecting neighborhoods that have been cut in two by highways: The bill provides $3 billion for neighborhood access and equity grants. Evans said, “This is another major win! This funding can help neighborhoods in my district like Chinatown, Nicetown and the Delaware Riverfront. The money can be used for things like capping, removing or re-locating highways, and pedestrian access. I co-led the $1 billion Reconnecting Communities grant program in the new infrastructure law, and now we’ll have FOUR times as much federal money available for these types of projects!”
• Lowering prescription drug prices: Under the deal that got the bill through the 50-50 Senate, the bill will finally enable Medicare to negotiate the price of prescription drugs starting in 2026, prevent excessive Medicare drug price hikes through an inflation rebate starting in October 2022, and cap out-of-pocket drug costs for seniors and people with disabilities on Medicare to $2,000 starting in 2025.
• Lowering energy costs and delivering largest-ever U.S. climate action: The bill will invest in domestic energy production and manufacturing, while reducing carbon emissions by roughly 40 percent by 2030 with historic investments in energy security and tackling the climate crisis.

The bill will provide loans and loan guarantees for more than $300 billion in clean energy infrastructure, advanced technologies, and transmission projects. It also includes over $60 billion for clean energy manufacturing in the United States across the full supply chain of clean energy and transportation technologies.  These incentives are designed to help alleviate inflation and reduce the risk of future price shocks.

The legislation also includes several initiatives to help consumers save money through energy efficiency and clean energy, such as $9 billion in consumer home energy rebate programs, focused on low-income consumers, to electrify home appliances and for energy-efficient retrofits. It also provides a $4,000 consumer tax credit for lower- and middle-income Americans to buy used clean vehicles, and up to $7,000 tax credit to buy new clean vehicles.

The bill also includes a $1 billion grant program to make affordable housing more energy-efficient, and provides 10 years of consumer tax credits to make homes energy-efficient and run on clean energy, making heat pumps, rooftop solar, electric heating and air conditioning, and water heaters more affordable.

“Saving people money and saving the planet at the same time is a win-win,” Evans said.

• Making biggest corporations and ultra-wealthy pay their fair share: The bill is paid for by strengthening IRS enforcement against wealthy tax cheats, closing tax loopholes exploited by the wealthiest few, and implementing a 15 percent corporate minimum tax – which applies only to the 150 corporations earning over $1 billion in profits that pay less than 15 percent in taxes. At the same time, the bill includes no new taxes on families making $400,000 or less and no new taxes on small businesses. 

“This bill is a giant step forward for tax fairness,” Evans said.

Evans represents the 3rd Congressional District, which includes Northwest and West Philadelphia and parts of North, South, Southwest and Center City Philadelphia. During Evans’ first five years in Congress, his office has helped to return to or save more than $25 million for Philadelphians from federal agencies such as the IRS, Social Security Administration and Department of Veterans Affairs. His website is evans.house.gov and his social media handle is @RepDwightEvans on Facebook, Twitter and Instagram.

Original source can be found here.