On the recordAugust 6, 2022
I rise tonight to talk about the Inflation Reduction Act. I am limited on time. I will try to keep within my 5 minutes. I wanted to start by just kind of providing a brief summary. This is legislation that will do a number of things, all of which are helpful to American families and the American economy. First of all, it will lower the cost of prescription drugs for seniors. It will, in fact, lower the cost of energy, the prices people pay for energy. On the prescription drug front, we talk about lowering costs and empowering Medicare, for the first time, to begin to negotiate for lower prices. It also caps the out-of-pocket costs that Medicare beneficiaries pay at $2,000. In Pennsylvania, the estimate is that there are more than 73,000 Pennsylvanians that pay more than $2,000 a year for prescription drugs. Every one of those 73,000-plus Pennsylvanians and more will benefit from capping out-of-pocket costs. It lowers costs for families, but it also reduces the threat of climate change and reduces the deficit at the same time--all of that while reducing emissions between now and 2030 by some 40 percent. And this may be the very last time--the very last time--that we have an opportunity to take action in a substantial way against the threat of climate change. The Presiding Officer has worked on this issue for years. He knows of what I speak better than anyone. This may be the last chance to take action on climate change.…





