Build Back Better Act

Floor Speech

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield myself 3 minutes.

Madam Speaker, I rise in strong support of H.R. 5376, the Inflation Reduction Act. This is landmark legislation that is going to help reduce costs for American families while finally aggressively tackling the climate crisis.

Madam Speaker, we simply cannot wait any longer to confront the climate crisis. Extreme weather events are becoming more frequent and more extreme. There are record-high temperatures across the Nation this summer. These extreme weather events cost families their loved ones, their homes, and their livelihoods.

This bill is the single largest investment in climate action in American history. We heard from the Ways and Means Committee about the tax credits, the investment production tax credits for renewables, for electric vehicles. I want to talk about the provisions from the Energy and Commerce Committee.

The bill makes unparalleled investments in climate, clean energy, and environmental justice so that we can slash climate pollution and meet our aggressive climate goals.

I want to highlight some of the things: a methane emissions reduction program, a greenhouse gas reduction fund to promote new green technology, investing in manufacturing that is green, reducing industrial emissions; a program for States and government entities to reduce climate pollution, a program for clean heavy-duty vehicles for trucks and school buses to make them less polluting, an appliance and building efficiency rebate to try to deal with emissions from buildings and appliances, an industrial emissions reduction program; environmental and climate justice block grants, and also provisions to deal with ports that are a major source of pollution.

All of these are designed, basically, to try to create clean jobs and to reduce energy costs for the average family. We estimate it at about $1,800 a year. It is estimated that this bill will actually reduce the pollution of greenhouse gases into the climate by 40 percent, in terms of what the U.S. has emitted since 2005.

It goes very far toward achieving our goals as a Nation, toward reducing the problem of greenhouse gas emissions.

In addition to that, the Inflation Reduction Act is also one of the most significant pieces of healthcare legislation moved through Congress in over a decade. I want to stress this: It breaks Big Pharma's monopoly on prescription drug prices.

The bill will lower prescription drug costs for seniors by finally empowering Medicare to negotiate the cost of prescription drugs. It also caps the amount that seniors pay at $2,000 annually, caps the cost of insulin at $35 a month, and penalizes companies that unfairly hike prices by forcing them to pay a rebate to the Federal Government if their prices rise more than inflation.

This legislation is necessary because, nearly 20 years ago, Republicans prevented the Federal Government from negotiating prices for seniors. So, today, we are finally leveling the playing field to ensure seniors are no longer forced to choose between putting food on their tables and their life savings.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield myself an additional 30 seconds.

Finally, I want to say that this legislation will also dramatically lower the cost of healthcare for millions of Americans by extending enhanced Affordable Care Act marketplace premium subsidies.

These enhanced subsidies are making a real difference for families, delivering an average savings of $2,400 a year for a family of four. They are set to expire at the end of the year, but this bill extends them through the end of 2025.

Madam Speaker, this legislation lays the foundation for a cleaner, more prosperous future for all Americans.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentlewoman from Delaware (Ms. Blunt Rochester), my neighbor from the State of Delaware and a member of the Committee on Energy and Commerce.

Ms. BLUNT ROCHESTER. Madam Speaker, today, I rise in support of the Inflation Reduction Act.

Oh, what a day in America. From lowering prescription drug prices for seniors, to closing tax loopholes on the wealthiest corporations, to making the largest investment in clean energy in history to tackle the climate crisis, the Inflation Reduction Act will help improve the lives of every single American. It will do it all while paying down the deficit.

I am particularly proud that the bill includes my climate smart ports provisions with my colleague, Ms. Barragan, which invests in ports across the Nation, like the Port of Wilmington, allowing them to upgrade their facilities, lower their carbon footprint, and create more good-paying union jobs.

Madam Speaker, in a session of Congress that has already seen remarkable landmark legislation passed, the Inflation Reduction Act is the capstone of our efforts to deliver. With this bill, we continue to put people over politics.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1 minute to the gentleman from Illinois (Mr. Casten).

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentleman from California (Mr. Ruiz), a member of the Committee on Energy and Commerce.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentleman from Florida (Mr. Soto), another member of the Energy and Commerce Committee.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 2 minutes to the gentlewoman from California (Ms. Eshoo), who is the chair of our Health Subcommittee.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentlewoman from Florida (Ms. Castor), who chairs the Select Committee on the Climate Crisis.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentlewoman from New York (Ms. Clarke), a member of the Energy and Commerce Committee.

Ms. CLARKE of New York. Madam Speaker, I thank the chairman for yielding. I rise today in support of H.R. 5376, the Inflation Reduction Act of 2022.

This monumental generational investment in our Nation's future will lower prescription drug prices and energy costs, extend healthcare coverage for millions of Americans, and deliver a vital down payment of resources in our stand against the climate crisis, all while creating millions of well-paying jobs across America.

Moreover, it makes good on our promise to always fight for this country's most vulnerable communities, now and forever.

The journey to today has been challenging, to say the least, but I am at long last elated to know that the change Americans need and demand is finally here.

Thanks to the hard work and ceaseless resolve of President Joe Biden, my Democratic colleagues on the Senate side, and every individual who took seriously their duty to fight tooth and nail to better the lives of every American in our care, our pursuit of progress has never been stronger.

For communities of color, our seniors, pregnant and postpartum people, individuals and families living on low wages, and everyone else who has long borne the brunt of too many hardships to list, this legislation represents the initial steps they have long and desperately awaited.

The Inflation Reduction Act will prevent thousands of premature deaths by improving air quality in densely populated communities with high environmental justice needs.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentleman from Oregon (Mr. Schrader), a member of the Committee on Energy and Commerce.

BREAK IN TRANSCRIPT

Mr. PALLONE.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentlewoman from Minnesota (Ms. Craig), a member of the Committee on Energy and Commerce.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentlewoman from Washington State (Ms. Schrier).

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1\1/2\ minutes to the gentlewoman from Texas (Mrs. Fletcher), a member of the Energy and Commerce Committee.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1 minute to the gentleman from California (Mr. Garamendi).

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1 minute to the gentleman from Maryland (Mr. Mfume).

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1 minute to the gentleman from Indiana (Mr. Mrvan).

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1 minute to the gentleman from New Jersey (Mr. Kim).

Mr. KIM of New Jersey. Madam Speaker, in 2018, I was at a home in a retirement community along the Jersey Shore. A gentleman pulled me aside and, in a whispered voice, shared with me that he pays over $500 a month for prescription drugs and couldn't keep up. He resorted to halving his pills.

He told me he was a proud man, but I could hear a quiver in his voice because he felt bad that he couldn't provide for himself and his wife. He said he worked hard for his entire life, but he can't do this on his own.

I told him that it was not his fault, that prices had been skyrocketing, that Medicare had not been able to negotiate prices, and that here in the richest, most powerful Nation in the world, those who worked hard over the course of their lives are left to fend for themselves, halving their medication. How sad is that?

I come to the floor of the House today to say that this stops here.

Medicare will be able to negotiate, and because of that gentleman and many others I heard from, I decided to help author the provision to cap the out-of-pocket costs for seniors at $2,000 a year, which is about $166 a month. Seniors have been waiting too long, and it is time now to get this done.
BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield 1 minute to the gentleman from Ohio (Mr. Ryan).

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield myself 1 minute.

Madam Speaker, I just want to take this opportunity to thank my committee staff who worked so hard on this legislation for so many years. This day would not be possible if it wasn't for their dedication and constant perseverance: Tiffany Guarascio, Waverly Gordon, Rick Kessler, Una Lee, Jacquelyn Bolen, Saha Khaterzai, Rick Van Buren, Tuley Wright, Caitlin Haberman, Adam Fischer, Anthony Gutierrez, Tyler O'Connor, Medha Surampudy, Jacqueline Cohen, Dustin Maghamfar, Timia Crisp, and Brendan Larkin.

Let me just say, Madam Speaker, I am still waiting for a couple more speakers. I just want to say that I cannot emphasize enough the significance of this legislation in terms of reducing costs for seniors through negotiated prices for Medicare, extending the Affordable Care Act, which has made so many people have health insurance who didn't have it before, and also addressing climate change, which is really the greatest crisis of our time. There is nothing that could be more significant in this legislation.

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, I yield myself 1 minute.

I will speak briefly before I introduce our two leaders who have done so much on the Democratic side to make this bill a possibility today. The Republican leader said that we should listen to our constituents. Well, we have.

Yesterday, I was at a senior center in Woodbridge, and a woman came up to me and said: You know, Congressman Pallone, I spend $1,500 a month on prescription drugs. And I was able to say to her: I am going to be in Washington tomorrow. I am going to vote on a bill that is going to cap your expenditures at $2,000 a year.

Then I had another woman in a telehealth meeting earlier in the week who told me that she was so hot, because in New Jersey we have had the worst drought and the highest temperatures that we know in years, and she said: I have to go to a cooling center because of the heat, because of my health and the impact on my health.

I was able to say to her: Look, it is going to take a while, but tomorrow--this Friday--I am going to vote on a bill that is going to address the climate change and the heating and the warming of this planet.

Madam Speaker, I want to thank our two leaders for what they have done to bring this about today.

Madam Speaker, I yield 1 minute to the gentleman from Maryland (Mr. Hoyer).

BREAK IN TRANSCRIPT

Mr. PALLONE. Madam Speaker, to close the debate, I yield 1 minute to the gentlewoman from California (Ms. Pelosi), the Speaker of the House, who has done so much to bring this bill to final passage today.

BREAK IN TRANSCRIPT

Source