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Inflation Reduction Act

The Inflation Reduction Act delivers transformative investments to the American people, including cutting healthcare costs, protecting our planet, and reducing rising inflation hurting consumers. This bill cuts the deficit, and will not raise taxes on residents, families, or small businesses in my district. I am proud to pass legislation that will cut kitchen table costs for Americans.

According to 126 leading economists—including seven Nobel Prize winners, three former chairs of the Council of Economic Advisers, and two former Treasury Secretaries — this legislation "will fight inflation and lower costs for American families while setting the stage for strong, stable, and broadly-shared long-term economic growth." This bill will not raise or implement new taxes on families making $400,000 or less, or on small businesses.

 

INFLATION REDUCTION ACT INVESTMENTS: 

 

THE INFLATION REDUCTION IS DELIVERING FOR CALIFORNIA 
  • Expands affordable health care coverage to 361,000 Californians.

  • Protects affordable healthcare access for 1.6 Million Californians.

  • Cuts the cost of health insurance by an average of $804 for Californians who get their healthcare through the ACA marketplace.

  • Caps annual out-of-pocket pharmacy costs at $2,000 for 5.1 million Medicare Part D beneficiaries in California.

  • Caps monthly insulin costs at $35 for 333,000 Californians covered under Medicare.

  • Enables over 930,000 California households to install rooftop solar.

  • Delivers $21.2 billion in investments in large-scale clean energy generation and storage.

  • Supports clean energy industries, which already employ 505,083 Californians.