Del. Democratic lawmakers celebrate Inflation Reduction Act, which saw no Republican support
DELAWARE – The historic Inflation Reduction Act is heading to President Joe Biden’s desk, and he has already promised to sign it. The votes that pushed the bill through followed strict party lines. In both the House and Senate, all Democrats voted in favor, with no Republican support.
Helping or Hurting Americans?
As lawmakers debated and voted into late hours, Republicans raised doubts about if the bill will actually help the average American. “You cannot spend your way out of inflation or tax yourself out of recession or borrow your way out of debt,” said Republican Representative Tom McClintock of California.
However, Democrats hold firm to their assertions that the $485 billion legislation is the right step forward. “Some of my Republican colleagues are saying this legislation will do nothing,” said Delaware Senator Tom Carper. “Not only is this going to make the deficit neutral, it will reduce the deficit, rather than add to it. And, it’s counter inflationary.”
Saving on Health Care
At a press conference in Lewes on Monday, Representative Lisa Blunt Rochester said the bill will make a significant impact on Delawareans’ health care costs.
“It lowers your health care costs. This is one of the issues that we have been talking about for decades. We’ve seen the expansion of access to health care. But, we need to make sure that we can bring costs down,” said Rep. Blunt Rochester.
Rep. Blunt Rochester says on average, Delawareans can expect to save about $800 a year on health care. Plus, she pointed out that Medicare now has the power to negotiate drug prices, and cap out of pocket costs.
“If we can negotiate for turbines and planes, we should be able to also make sure that consumers, Americans, seniors, can be able to get the drugs that they need to be healthy,” said Rep. Blunt Rochester.
Fighting the Climate Crisis
The Inflation Reduction Act also makes historic strides forward in the fight against the climate crisis. It’s the single largest investment in that area in American history. “We can move into this new future in a clean way that saves our planet, keeps people economically strong, and helps our health and wellness,” said Rep. Blunt Rochester.
Rep. Blunt Rochester says Delawareans can also look forward to saving on energy costs. “It is estimated that this bill, on average, will save families anywhere from $500 to $1,000. Every dollar counts for people right now,” she said.
Closing Loop Holes
Sen. Tom Carper and Rep. Blunt Rochester acknowledged that many Delawareans probably have one big question on their minds: Who is going to pay for all of this? The lawmakers say the act closes tax loopholes that large corporations and the wealthiest Americans have been taking advantage of for years.
“People say ‘Is there an offset?’ No, it’s fully paid for. And, if you happen to be a family making less than $400,000 dollars, you’re not going to pay a dime. If you’re a wealthy family, making a lot of money, and not paying any taxes, you’re going to pay some taxes,” said Sen. Carper. “They’re going to pay their fair share. We’re not interested in gouging anybody. We want everybody to pay their fair share. I don’t think that’s asking too much.”