Butterfield Statement on Senate Passage of Inflation Reduction Act

WASHINGTON, D.C.- Today, Congressman G. K. Butterfield (NC-01) issued the following statement after the Senate passed the Inflation Reduction Act:

"I congratulate Senate Democrats on the passage of the Inflation Reduction Act. When the House passes the legislation later this week and is signed by President Biden, we will aggressively fight inflation and continue to build the American economy. The legislation will lower the costs of prescription drugs by allowing Medicare to negotiate lower prices. The legislation sets an annual cap of $2,000 on drug costs for senior citizens. The legislation will extend subsidies for health insurance under the Affordable Care Act.

"This legislation will kick-start the era of affordable clean energy in America. It is a game-changer. It is a turning point in saving the planet from global warming.

"This legislation will not add one penny to the federal deficit. It is paid for by making large corporations pay their fair share and not raising taxes for those making less than $400,000 per year."