Rep. Vargas Votes for Landmark Legislation to Create Good-Paying Jobs, Combat Climate Change, and Lower Health Care Costs for Californians
Rep. Vargas Votes for Landmark Legislation to Create Good-Paying Jobs, Combat Climate Change, and Lower Health Care Costs for Californians
WASHINGTON, D.C (August 12, 2022) — Congressmember Vargas released the following statement on his vote today to create good-paying jobs, address the climate crisis, and reduce health care costs for millions of Americans:
“I proudly voted for the Inflation Reduction Act to deliver transformational change for working Americans, including my constituents,” said Rep. Vargas. “This historic legislation will help lower kitchen table costs, reduce health care costs and prescription drug prices, and make historic investments in energy-efficient solutions to combat climate change. Democrats are meeting the moment to fight inflation, create good-paying American jobs, and invest in climate-resilient communities. This landmark bill is going to make a tremendous difference in Americans’ lives, and I’m looking forward to seeing President Biden sign it into law. I remain committed to working with my colleagues in Congress to continue delivering for the people.”
The Inflation Reduction Act makes much-needed investments to lower costs, protect our planet, reduce our national deficit, and more:
- The bill reduces the cost of health care for millions by extending ACA subsidies for three more years, locking in lower health care premiums that would save 13 million people an average of $800 a year;
- Ends the ban on Medicare negotiating prescription drug prices, allows Medicare to negotiate the price of prescription drugs, prevents excessive price hikes, and caps out-of-pocket costs to $2,000;
- Lowers the deficit and reduces inflation makes a historic down payment on deficit reduction of approximately $300 billion to fight inflation;
- Makes the biggest corporations and ultra-wealthy pay their fair share by strengthening IRS enforcement against wealthy tax cheats, closing tax loopholes exploited by the wealthiest few, and implementing a 15 percent corporate minimum tax;
- The bill invests tens of billions of dollars in bolstering clean manufacturing, so that the green technologies and products of the 21st century are made in America, creating good jobs at home;
- And it will help the United States cut carbon pollution by roughly 40 percent by 2030.
The Inflation Reduction Act now moves to President Biden’s desk to be signed into law.
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Vargas represents California’s 51st Congressional District which includes the southern portion of San Diego County, all of Imperial County and California’s entire U.S.-Mexico border. Vargas was first elected to the U.S. House of Representatives in 2012 and is currently serving his fifth term in Congress. He serves on the House Financial Services Committee and House Foreign Affairs Committee.