One Party Rule (1)

Aug 6, 2022 11:15 AM CST One Party Rule
The Republican Party has decided that they govern best by not governing at all. The Democratic Party has made it their mission to do whatever they can to make significant changes to improve the lives of all Americans. Guess who is succeeding?

The Inflation Reduction Act

Economics
The new proposal will invest $300 billion in "deficit reduction," backers say, by making the "biggest corporations and ultra-wealthy pay their fair share," and by providing funds to enhance IRS tax enforcement.

Climate
Most of the $369 billion the Inflation Reduction Act would spend on climate would go to renewable energy tax credits that would prop up clean energy technology such as carbon capture, hydrogen, renewables and energy storage. The climate provisions would also provide consumer tax credits for "home energy efficiency improvements" and for the purchase of clean vehicles.

Health care, prescription drug prices
The bill also would allocate $64 billion to extend expiring Affordable Care Act subsidies by three years, through 2025.

It also aims to chip away at a long-held Democratic goal of lowering prescription drug prices for seniors by allowing Medicare to negotiate drug prices directly.

The bill would also cap out-of-pocket costs at $2,000 for those who use Medicare drug plans, with the option to break that amount into affordable monthly payments. Currently, no cap exists.

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Created: Aug 6
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