The Inflation Reduction Act modernizes and IRS and closes unfair tax loopholes used by the ultra rich and corporations. These provisions include a 15% minimum corporate tax rate, a 1% tax on stock buybacks, and increased tax enforcement to make sure corporations and their stockholders pay their fair share. Importantly, the law imposes no new taxes on households making under $400,000 per year.
The Inflation Reduction Act reduces healthcare costs for every America. People with health insurance plans under the Affordable Care Act are receiving lower premiums, and medicare beneficiaries’ yearly out-of-pocket expenses are now capped at $2,000. Medicare can also now negotiate drug prices, and insulin prices are capped at $35 per month.
The Inflation Reduction Act is the largest investment in clean energy and climate resiliency in American history. Thanks to tax credits, it’s now more affordable for consumers to purchase electric vehicles, install more efficient heating and cooling in their homes, and utilize more sustainable public transit. The IRA also incentivizes the construction of battery and clean energy production plants, reducing emissions and creating good paying union jobs.
Paid for by Common Good โ Lancaster
Not authorized by any candidate or candidate's committee
