Post from August 7, 2022
Garamendi Will Vote to Pass the Historic “Inflation Reduction Act of 2022” out of the House of Representatives this week.
WASHINGTON, D.C.—Today, Congressman John Garamendi (D-CA) commended the Senate passage of the “Inflation Reduction Act of 2022” (H.R. 5376). The legislation provides the single largest investment to combat climate change ever, saves Americans an average of $220 in home energy costs each year, reduces inflation, lowers healthcare costs, and closes tax loopholes that giant corporations exploit to pay a lower tax rate than the middle-class. Not a single Republican Senator voted for this historic effort to support working Americans.
The legislation now heads to the House of Representatives where Garamendi will vote in favor of its passage.
“When President Biden and Congressional majorities in the U.S. House of Representatives and the U.S. Senate were sworn in during January of 2021, we vowed to deliver historic progress for the American people that meets the unprecedented challenges we currently face as a country,” Garamendi said. “In less than two years, President Biden and Congressional Democrats passed the American Rescue Plan—which distributed live-saving vaccines and therapeutics against COVID-19 and helped our economy recover and reach new heights—the Infrastructure and Jobs Act—which will completely rebuild and modernize our crumbling infrastructure for the 21st century using American materials and workers—and this week we will pass the “Inflation Reduction Act” to provide a once-in-a-generation boost to the middle-class and the fight against the climate crisis.
The House of Representatives is expected to vote this Friday, August 12th on final passage of the bill before it heads to President Biden’s desk for signature.
INFLATION REDUCTION ACT OF 2022
Legislative Text
• Inflation Reduction Act of 2022
Summaries
• Inflation Reduction Act - One Page Summary
• Tax Summary
• Prescription Drugs Summary
• Energy Security and Climate Change Investments Summary
Original source can be found here.
