Rep. Watson Coleman Votes for Historic Inflation Reduction Act to Lower New Jerseyans' Costs
Today, Congresswoman Bonnie Watson Coleman (NJ-12) voted to pass the Inflation Reduction Act, a comprehensive budget reconciliation package that will create jobs, fight climate change, and cut kitchen-table costs for working families. Already passed by the Senate, the bill now heads to the President’s desk.
“Among other things, the Inflation Reduction Act will relieve the pain of rising prices, hold corporations and billionaires accountable, and make our nation’s largest-ever investment in tackling the climate crisis,” said Rep. Watson Coleman. “I couldn’t have been more proud to vote for this legislation, which reflects a historic investment in American workers, families, and our future.”
The Inflation Reduction Act will cut costs for the middle and working class without raising taxes on small businesses or families whose income totals $400,000 or less. Instead, it will rely on raising taxes on corporations and the wealthy to rates approaching levels set before the 2017 Donald Trump Tax Scam. The legislation’s other provisions address many of the Congresswoman’s progressive priorities, including advancing environmental justice, protecting access to affordable health care, and allowing Medicare to negotiate prescription drug prices.
“Since President Biden’s first days in office, I’ve fought alongside my colleagues in the Congressional Progressive Caucus to realize our shared vision of an America that works for the working class. The Inflation Reduction Act, which includes key elements of the Build Back Better Act, is a step toward achieving that goal,” said Rep. Watson Coleman. “Had the Progressive Caucus not tirelessly fought to enact the President’s agenda, we would not be here today.”
“While the passage of this legislation is without question a victory for Americans, they nonetheless deserve more from their government,” said Watson Coleman. “We will not stop fighting for the pieces left on the cutting room floor — universal childcare, pre-K, housing, immigration justice, and Medicare expansion. It is our duty as public servants to ensure that every single American can afford their most basic needs, and to that end, much work remains to be done. The American Dream remains a dream for far too many, and I will not rest until every American has the freedom to thrive.”
You can read a full summary of the bill here.