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August 12, 2022 | H.R.5376

The Inflation Reduction Act (IRA) brings down the cost of healthcare for families and makes historic investments in domestic energy production and manufacturing; all paid for by fixing our tax code so the wealthy and biggest corporations pay their fair share and without raising taxes for people who make under $400,000.

 

HEALTH CARE

The IRA includes important provisions to lower health care costs and the cost of prescription drugs. Overall, the bill will save millions of seniors over $1,200 per year. Specifically, the law:

  • Empowers Medicare to negotiate directly for the price of the highest cost prescription drugs beginning in 2026, alleviating the high and rising cost of drugs under our retiree health plans;
  • Requires drug manufacturers to pay rebates to Medicare if they raise the cost of their drugs at a rate faster than inflation, ensuring that all our members and retirees are protected from price spikes; 
  • Extends the enhanced ACA premium tax credit for three years, which will prevent 13 million people from experiencing an increase in ACA premium; 
  • Caps Medicare Part D out of pocket cost at $2,000 per year for prescription drugs; and
  • Limits cost for insulin to $35 monthly for Medicare beneficiaries 

 

DOMESTIC CLEAN ENERGY MANUFACTURING

The IRA makes historic investments to lower energy costs, revitalize U.S. manufacturing, and support and create good union jobs:

  • Creates nearly 9 million good jobs in clean energy, clean manufacturing and other sectors through investments to accelerate clean energy deployment and boost clean technology manufacturing;
  • Gives up to $7,500 in tax credits for new electric vehicles and $4,000 for used electric vehicles;
  • Will save working families an average of over $500 per year on energy costs, using home energy appliance rebates and tax credits to make homes more energy efficient;
  • Supports and develops the domestic production of sustainable fuel by providing tax credits to airlines who purchase sustainable fuel to help reduce emissions and lower airfare costs; and
  • Provides tax credits for investments in American-manufactured clean energy manufacturing and for the use of American-made equipment for clean energy production. 

 

TAXES

The IRA makes the tax code fairer by making the rich and corporations pay their fair share:

  • Institutes a 15% corporate minimum tax, guaranteeing that large profitable corporations that have evaded taxes for years will pay their fair share;
  • Strengthens enforcement against tax dodging by the super-wealthy and big corporations; 
  • Imposes a 1% excise tax on corporate stock buybacks, which corporate executives use to enrich themselves at the expense of workers and the company’s long-term success.

This is Good for working people.

Vote result:
Passed

YEAs: 220 | NAYs: 207
Legislator Sort descending State District Party Vote
Rep. Julia Brownley CA 26 Democrat Yes
Rep. Vern Buchanan FL 16 Republican No
Rep. Ken Buck CO 4 Republican No
Rep. Larry Bucshon IN 8 Republican No
Sen. Ted Budd NC Republican No
Rep. Tim Burchett TN 2 Republican No
Rep. Michael C. Burgess TX 26 Republican No
Rep. Cori Bush MO 1 Democrat Yes
Rep. Cheri Bustos IL 17 Democrat Yes
Rep. G. K. Butterfield NC 1 Democrat Yes
Rep. Ken Calvert CA 41 Republican No
Rep. Kat Cammack FL 3 Republican No
Rep. Salud Carbajal CA 24 Democrat Yes
Rep. Tony Cárdenas CA 29 Democrat Yes
Rep. Mike Carey OH 15 Republican No
Rep. Jerry Carl AL 1 Republican Not Voting
Rep. André Carson IN 7 Democrat Yes
Rep. Buddy Carter GA 1 Republican No
Rep. John Carter TX 31 Republican No
Rep. Troy Carter LA 2 Democrat Yes
2022 House Key Votes
  1. Confirmation of Janet Yellen as the Secretary of the Department of Treasury
  2. Freedom to Vote: John R. Lewis Act
  3. NLRB Joint Employer Congressional Review Act
  4. Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act
  5. Equality Act
  6. Protecting the Right to Organize Act - Motion to Recommit
  7. American Rescue Plan Act
  8. Protecting the Right to Organize Act
  9. For the People Act
  10. Protecting the Right to Organize Act
  11. Raise the Wage Act
  12. Families First Coronavirus Response Act
  13. Expanding Access to Capital Act
  14. CARES Act
  15. Confirmation of Nicole Berner to U.S. Circuit Judge for the Fourth Circuit
  16. Families First Coronavirus Response Act
  17. Paycheck Fairness Act
  18. American Rescue Plan Act
  19. For the People Act
  20. Congressional Review Act
  21. Confirmation of Katherine Tai as the United States Trade Representative
  22. Confirmation of Marty Walsh as the Secretary of the Department of Labor
  23. Confirmation of Ketanji Brown Jackson to Associate Justice of the Supreme Court
  24. Paycheck Fairness Act
  25. Congressional Review Act
  26. Default on America Act
  27. Confirmation of Gwynne A. Wilcox to the National Labor Relations Board
  28. Equality Act
  29. Paycheck Fairness Act
  30. For the People Act
  31. John Lewis Voting Rights Advancement Act
  32. CHIPS and Science Act
  33. Confirmation of Jennifer Abruzzo as NLBR General Counsel
  34. Confirmation of Gwynne Wilcox as Member of the NLRB
  35. Confirmation of David Prouty as Member of the NLRB
  36. Infrastructure Investment and Jobs Act (IIJA)
  37. Inflation Reduction Act
  38. DISCLOSE Act
  39. DISCLOSE Act
  40. Infrastructure Investment and Jobs Act (IIJA)
  41. Build Back Better Act (BBB)
  42. CHIPS and Science Act
  43. Inflation Reduction Act
  44. CARES Act