Build Back Better Act

Floor Speech

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Mr. SCHNEIDER. Madam Speaker, I proudly rise today in support of the Inflation Reduction Act. This historic bill will lower the cost of energy and healthcare for millions of Americans. Just as important, it makes the largest ever investment in tackling the climate crisis, helping us cut carbon emissions by 40 percent by 2030.

These historic investments will improve the lives of hardworking Americans, all while reducing our deficit by $300 billion.

This bill will allow the HHS Secretary to negotiate the prices of some of the most expensive drugs. It caps the price of insulin at $35 for Americans on Medicare. It also includes expanded coverage for low- income Medicare beneficiaries, which I have championed for years.

On climate change, I am particularly proud that this bill includes my legislation, the Sustainable Skies Act, that will help dramatically reduce greenhouse gas emissions from aviation, which today accounts for 2 percent of the world's annual emissions.

The bill also tackles the high energy costs that Americans face with investments in consumer home energy, from rooftop solar panels to electric HVAC systems.

Let me repeat: this bill is entirely and responsibly paid for and then some.

Again, our deficit will be cut by more than $300 billion by the action Congress is taking today.

Madam Speaker, Americans have been hard hit by a once-in-a-century pandemic and then by the consequent effects of global inflation and supply chain crises. And every year the impacts of climate change become more severe and more costly. Americans need relief.

Madam Speaker, I urge my colleagues to vote for the Inflation Reduction Act and give our fellow citizens the relief they deserve.

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