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Inflation Reduction Act: A Win for Workers!

27 Sep, 2022

More union jobs. More revenue by taxing the rich without raising taxes on working families. Lower healthcare costs. Fighting climate change.

JOB CREATION

The bill will add 1.5 million new jobs by 2025 with major investments in our communities and infrastructure.[1]

  • Manufacturing reinvestment in energy and automotive and Made-in-America clean products
  • Upgrades to energy and grid infrastructure to support new energy projects

LOWERING HEALTHCARE COSTS

  • With prescription drug makers getting rich off of out-of-control drug prices, the new legislation will work to bring down healthcare costs, particularly prescription drug costs
  • Allow for Medicare to negotiate lower drug prices for seniors and people with disabilities. Caps increases in prescription drug prices for Medicare recipients to the rate of inflation, putting a much-needed limit on how much manufacturers can raise costs

TAXING THE ULTRA-RICH WITHOUT RAISING TAXES FOR WORKING FAMILIES

While we've been struggling with inflation and rising costs in nearly all aspects of life, American companies have seen massive profits - their biggest profit margins, in fact, since 1950.[2] This bill will help us fight back.

  • 15% minimum corporate tax on corporations with profits over $1 billion – expected to raise $222 billion for our economy.[3]
  • 1% tax on corporate stock buybacks (which corporate executives use to line their own pockets at the expense of workers).
  • No families making less than $400,000 per year will see their taxes raised.

Click here to learn more!

 

[1] https://laborenergy.org/fact-sheets/lep-analysis-of-the-inflation-reduction-act-key-findings-on-jobsinflation-and-gdp/

[2] https://fortune.com/2022/08/25/us-corporate-profit-margins-second-quarter-widest-since-1950

[3] Congressional Budget Office

SOCK DRIVE FOR THE KIDS AT HIGHPOINTE PEDIATRIC UNIT

Socks of all sizes can be dropped off now through December 12th at the Local, 821 Elk Street, M-F, 8 am-4 pm.  Or, bring them with you to the our Membership Meeting and Holiday Party on December 5th!  

CWA Local 1133 Membership Meeting and Holiday Party

Please join us on December 5, 2022 at the Buffalo Irish Center, 245 Abbott Road, Buffalo, NY 14220 starting at 4:30 p.m.

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