Inflation Reduction Act Is Necessary Step Towards Reining In Corporate Greed
WASHINGTON, D.C. — Yesterday, Senate Democrats announced the Inflation Reduction Act of 2022, which will rein in corporate greed, make wealthy corporations pay their fair share in taxes, and reduce costs for working people. The legislation will be a major step toward ending the abuses of Big Pharma by lifting the ban on Medicare negotiating lower prescription drug prices and lower health insurance costs for 13 million Americans. It will also help ensure corporations pay their share in taxes by instituting a 15 percent corporate minimum tax and strengthening the IRS’s ability to crack down on tax avoidance.
Unrig Our Economy campaign director Sarah Baron, issued the following statement in response:
“The Inflation Reduction Act of 2022 is a significant step towards combating corporate greed and making an economy that works for working people — the bill will help to lower costs for average Americans by pushing back against price gouging by wealthy pharmaceutical companies that have put necessary medications out of reach for working people and big oil companies who’ve been given a blank check to take advantage of consumers at the pump, and will ensure that working people aren’t paying more in taxes than megacorporations.
The vast majority of Americans rightly blame corporate greed for driving inflation, so it is heartening to see Democrats unite around a bill that addresses the issue at its source. As the bill is considered by Congress, Unrig Our Economy urges all members to decide where they stand — with corporations or with the hardworking constituents they were elected to represent.”
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