[NFBNJ] FW: The Inflation Reduction Act is Now Law

[Linda Melendez]

From: Congressman Frank Pallone Sent: Friday, August 19, 2022 5:30 Subject:
The Inflation Reduction Act is Now Law

Dear Neighbors,

President Biden signed the Inflation Reduction Act into law this week. I
was honored to join the President at the White House this week for the
signing ceremony. The bill is one of the most significant pieces of health
care legislation to become law in over a decade.

This new law will:

✔️lower prescription drug costs for seniors by finally empowering Medicare
to negotiate the cost of prescription drugs

✔️cap the amount seniors pay for drugs at $2,000 annually and the amount
seniors pay for insulin at $35 per month

✔️lower the cost of monthly health insurance premiums for millions of
Americans

✔️penalize Big Pharma for unfairly hiking prices faster than inflation by
requiring them to pay a rebate to Medicare.


The Inflation Reduction Act is also the single-largest investment in
climate action in American history and will create new clean jobs and lower
energy costs for American families. The law will also slash our nation’s
climate pollution 40 percent by 2030 and put us on track to meet our
aggressive climate goals. It also includes $2.6 billion to conserve and
restore coastal habitats with living shorelines projects that will protect
coastal communities like the ones along the Jersey Shore.

The Inflation Reduction Act Holds Corporate Polluters Accountable

The Inflation Reduction Act will reinstate the Superfund tax on oil
companies. It’s expected to raise $11.7 billion. I’ve long advocated for
reinstating the tax on these companies to ensure polluters, not taxpayers,
foot the bill for cleaning up waste and pollution. It’s estimated that 50%
of New Jersey’s population lives within 3 miles of a Superfund site. In
July, the Superfund tax was reinstated on chemical companies thanks to the
Bipartisan Infrastructure Law. With this new funding source, the
Environmental Protection Agency will be able to tackle more cleanups and
address cleanup backlogs years in the making. Read more here

If you have questions about resources available to New Jerseyans related to
COVID-19, click here to visit my website or call my offices directly:

Middlesex County: 732-249-8892

Monmouth County: 732-571-1140

Sincerely,

Congressman Pallone


-- 

Warmly,
Linda Melendez, President
National Federation of the Blind of New Jersey
732-421-7063
president at nfbnj.org
www.nfbnj.org
Facebook: https://m.facebook.com/NFB-NJ-353099574776238
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