08/16/2022 | Press release | Distributed by Public on 08/16/2022 17:09
Today, lower costs for Oregon families will be the result of the Inflation Reduction Act. Signed into law by President Biden, the bill will reduce inflation, make the largest clean energy investment in American history, and not raise taxes on anyone making less than $400,000 a year.
This victory for Oregonians is only possible thanks to the leadership of Oregon's Congressional Democrats, including Sen. Ron Wyden, who played a major role in writing the bill and - according to PBS NewsHour reporter Lisa Desjardins- worked with his staff to fix a critical, last minute issue only hours before the final Senate vote.
"This is huge! It's a proud day to be an Oregon Democrat. Sen. Wyden, Sen. Merkley, and our entire Democratic House delegation took on special interests to fight inflation, and the Inflation Reduction Act is going to do just that - lowering costs on everything from prescription drugs, to health care, to home energy for Oregon families.
"While EVERY Republican sided with Big Pharma and voted against these cost cutting measures, and blocked others that would cap insulin costs, Democrats are tackling the top challenges that face Oregon families - and we're doing it by making huge corporations pay their fair share and without raising taxes on anyone making under $400,000," said KC Hanson, Chair of the Democratic Party of Oregon.
Specifically, the Inflation Reduction Act: