They See Blue® Applauds Biden Signing Inflation Reduction Act into Law, But It’s Just a First Step
AUGUST 16, 2022 — The Inflation Reduction Act, which was signed into law today by President Biden, will significantly cut carbon emissions, lower prescription drug prices and reduce our deficit. They See Blue® hails this landmark legislation that will transform American lives and provide the foundation for greater progress in energy, the environment and healthcare.
Americans overwhelmingly want our government to take action to address the deleterious effects of climate change and this bill delivers, helping us reduce greenhouse gas emissions 40 percent by 2030.
“Our communities believe climate change is a top priority and this important legislation shows that Democrats are committed to action in addressing climate change while delivering on people’s energy needs,” said Rajat Srivastava, a co-founder of the They See Blue® organization, which is tasked with mobilizing Americans of South Asian origin to vote for Democrats. “But this is just a good first step as we deal with more frequent and intense wildfires, droughts and storms.”
The legislation includes $369 million that will spur consumer investment in more energy-efficient appliances, solar technology and electric vehicles; incentivize manufacturing commitment to create reliable, cleaner energy production; and drive energy investments in disadvantaged and rural communities.
But the law will do so much more. It will allow Medicare to directly negotiate drug prices and cap out-of-pocket costs as well as lower Affordable Care Act premiums. While it will cap insulin costs at $35 per month for Medicare patients, Senate Republicans voted it down for private insurance patients. We need to take care of all Americans.
To pay for all this, the legislation will raise taxes on the wealthiest Americans and corporations for their fair share and bolster IRS tax enforcement. This will help pay down America’s debt that will counter inflation and grow the economy.
“We commend the Biden administration and congressional Democrats in delivering benefits to the American people, but we have to do more,” said Srivastava.