LANSING, Mich. (WLNS) – The Inflation Reduction Act aims to do just what it says, reduce inflation, and it passed the House of Representatives on Friday. Now it’s headed to the desk of President Joe Biden, who is expected to sign it.
Now, Michigan-based elected officials reacting to the bill’s passage.
“I am thrilled that the Inflation Reduction Act has been sent to the president’s desk. This commonsense legislation will lower the cost of prescription drugs, health care, and energy, and create and protect millions good-paying manufacturing jobs. My administration is working every day to lower costs, and this legislation will provide even more relief to families.
“This bill will keep more money in people’s pockets. For seniors on Medicare, out-of-pocket prescription drug costs will be capped at $2,000 a year and insulin will cost no more than $35 a month, saving lives. 13 million Americans will save $800 a year on premiums, and 3 million will be able to keep their insurance.
“Families will save at least $500 a year on energy costs, with lower utility bills and more affordable household appliances and home improvements. Middle-class Americans will get thousands of dollars in tax credits for buying electric vehicles made right here in Michigan.
“The bill will also surge clean energy production, lowering gas prices, reducing our reliance on foreign oil, and creating millions of manufacturing and energy jobs along the way. Getting this done will fight climate change and protect our precious natural resources—including our Great Lakes.
“The Inflation Reduction Act lowers costs and creates jobs. I want to thank the leaders in Michigan’s congressional delegation who worked hard to get this done and build on our economic momentum. Let’s keep moving Michigan forward.”Governor Gretchen Whitmer
This afternoon, Congressman John Moolenaar voted against Democrats’ latest partisan spending bill. The legislation was passed in a party-line vote.
“Michigan families are hurting as they deal with the recession and high prices caused by President Biden. Today’s bill doubles down on his failed policies, with higher spending, higher taxes, and bigger government. It slams manufacturers with a $300 billion tax hike, hires 87,000 IRS employees, increases tax audits of hardworking Americans, and raises taxes on American energy,” said Moolenaar. “Raising taxes in a recession is wrong and Michigan families should be allowed to keep more of their own money at home.”
“When Republicans led the House of Representatives, we had a strong economy with low inflation and affordable energy. We can do that again, and I will continue to fight for policies that will put the economy back on track as it recovers from President Biden’s recession,” added Moolenaar.
According to the nonpartisan Joint Committee on Taxation, this legislation would increase tax revenue received from taxpayers in every tax bracket. The nonpartisan Congressional Budget Office has already come out and said the IRS funding would result in higher audit rates for low income and middle-class Americans.Congressman John Moolenaar MI-04
“This historic legislation delivers for Michigan families and seniors. Medicare will finally be able to negotiate with drug companies to lower the cost of prescription drugs and cap the price of insulin at $35 per month. You shouldn’t have to choose between putting food on the table and being able to afford the medicine you need. The legislation also lowers health care premiums for working families, putting $800 per month, on average, back in the pockets of Michigan families. For far too long, we have seen manufacturing jobs shipped overseas. This bill will help keep those jobs in Michigan. Finally, this bill is fully paid for by ensuring wealthy corporations and billionaires pay their fair share. A Flint assembly worker, or a Saginaw teacher or a Bay City nurse shouldn’t pay more in taxes than wealthy corporations. I will continue to deliver for Michiganders to lower costs and create good-paying jobs that can support a family.”Congressman Dan Kildee MI-05
“The impact of soaring inflation is being felt by Americans every time they go to the grocery store, a restaurant, or their favorite small business. This massive tax and spend legislation will add fuel to the inflationary fire, cause prices to soar even further, and make it even more difficult for families across Michigan to make ends meet. Sadly, nearly one-third of Congress couldn’t even be bothered to show up in person today to cast their vote on this Democrat Debacle.”Congressman Bill Huizenga MI-02
“We are on the verge of lowering costs for Michiganders and Americans across the country in a significant way. The Inflation Reduction Act will soon be law, lowering prescription drug prices and health care costs, making the most consequential investments in combating climate change, all while creating American jobs, incentivizing U.S. manufacturing, fighting inflation and lowering the deficit.”Senator Gary Peters D-MI
“Today, I voted for the Inflation Reduction Act (IRA) for some very simple reasons: it’s going to save Michiganders money, and make critical investments in our economic and national security.Congressowoman Elissa Slotkin MI-08
“From their prescription drug and healthcare costs to their energy bills, working families will feel the impact of this legislation on their wallets. And it’s going to do that without adding to the national deficit, while also bringing critical energy supply chains back to the U.S. and investing in American-made advanced manufacturing.
“A major part of this bill is what it does to healthcare costs: like many Americans, healthcare and the cost of prescription drugs is a deeply personal issue for me. In 2009, my mother was diagnosed with Stage IV ovarian cancer – and she did not have health insurance. She had let it lapse to pay other bills. So at the same moment that my family was desperately trying to get her emergency surgery and the care she needed, we were filling out the paperwork for her to declare bankruptcy. That desperate feeling of figuring out how to pay for the care and prescriptions one needs to live is that same desperate feeling that is being addressed today with the IRA.
“With inflation remaining at a 40-year high, Democrats are recycling many of the same harmful tax-and-spend policies that created an economic crisis in the first place. It defies common sense to raise taxes during a recession and spend billions we don’t have on partisan schemes that won’t work. A cornerstone of this massive bill is funneling $80 billion to the IRS to hire 87,000 new agents to breathe down the necks of hardworking taxpayers who are struggling to make ends meet. It also continues the Biden administration’s obstruction of American energy production to justify creating a special interests slush fund for extreme Green New Deal initiatives. Our focus should be on combating inflation, regaining energy independence, and restoring economic prosperity—not making it harder for Michigan families and small businesses to stay afloat.”Congressman Tim Walberg MI-07