Unrig Our Economy Applauds Congress for Delivering Relief to Working People
Today, the U.S. House of Representatives passed the Inflation Reduction Act of 2022, a historic piece of legislation that will lower costs for working people, ensure corporations are paying their fair share in taxes, and rein in corporate greed. Key provisions of the bill include allowing Medicare to negotiate lower prescription drug prices and instating a 15 percent corporate minimum tax and a one percent stock buybacks tax, which will ensure that working people aren’t paying more in taxes than some of the country’s largest corporations and that corporations are disincentivized from spending trillions of dollars on stock buybacks to wealthy shareholders and executives.
Sarah Baron, the campaign director of Unrig Our Economy, issued the following statement in response:
“Today, we celebrate the historic achievement of the passage of the Inflation Reduction Act and applaud Congressional Democrats for fighting to ensure that working people don’t have to choose between buying life-saving medication, filling up their gas tanks, or feeding their families.
The legislation — over a year in the making — is a significant step toward creating an economy that works for working people, not just corporations and the rich. While every Congressional Democrat voted in favor of the bill, every Republican in both chambers voted against it — making it clear that they care more about lining the pockets of their wealthy donors than addressing the needs of the constituents who elected them.
Unrig Our Economy will be applauding President Biden when he signs this bill into law, delivering relief to millions of Americans across the country.”
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