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MAJORITY WHIP CLYBURN DELIVERS FLOOR SPEECH IN SUPPORT OF THE INFLATION REDUCTION ACT

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August 12, 2022
Fri, 08/12/2022 - 4:31pm -- cwhite

WASHINGTON, D.C. – U.S. House Majority Whip James E. Clyburn delivered the following remarks today on the Floor in advance of the U.S. House of Representatives' vote on H.R. 5376, the Inflation Reduction Act:

“Madam Speaker, I rise today in full support of the Inflation Reduction Act. There are few days during a Congressional career that feel truly historic. For me, this is one of them.

“Passage of the Inflation Reduction Act will lead to the transformative change Democrats in Congress have been working with President Biden to achieve for the past year and a half.

“We have passed other historic legislation to help our country overcome the pandemic, create jobs, repair, and invest in our infrastructure, and bolster critical supply chains.

“The Inflation Reduction Act will check inflation by reducing the deficit by $300 billion over the next decade.  It achieves that by ensuring tax fairness that requires corporations to pay a minimum tax of 15 percent and protecting families making less than $400,000 per year from paying even one penny more in taxes.

“In addition, the Inflation Reduction Act will assist families by extending subsidies for the purchase of health insurance through the Affordable Care Act exchange.  Seniors on Medicare will benefit from the government’s ability to negotiate prescription drug prices and by capping out-of-pocket drug costs at $2,000 per year.

“Having experienced my late wife’s 30-year battle with diabetes, I am especially pleased this bill will cap insulin costs at $35 per month for those on Medicare. This is a giant step forward, but we will continue working to overcome the Republican opposition that blocked extending the same life-saving measure to those on private insurance.

“Finally, this bill will cut climate pollution by 40-percent by 2030.  It does so by building a new, clean energy economy that invests in a healthy future for all our citizens, creating more than 9 million new jobs.

“This legislation creates a nuclear production tax credit for existing reactors, ensuring that my home state of South Carolina continues to be a leader in clean energy generation while also making electricity affordable and accessible.

“It also puts $60 billion toward environmental justice to help communities, especially communities of color, address the legacy of pollution in their neighborhoods.

“I believe today we are demonstrating what we Democrats mean when we say, we are putting people over politics, while our Republican colleagues continue to put their politics over the people’s health and well-being.

“I am proud to stand with the people of America and help deliver this historic legislation to President Biden for his signature.”

Click here to view full speech. 

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