Build Back Better Act

Floor Speech

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Mr. GARAMENDI. Madam Speaker, the historic Inflation Reduction Act lowers everyday costs Americans are struggling to afford by cutting the price of prescription drugs, by making the largest-ever investment in climate action, and by reducing inflation--all of this without raising taxes on middle-class Americans and also paying down the national debt.

For too long, the price of lifesaving prescription drugs has bankrupted American families. No more. This bill caps out-of-pocket drug costs at $2,000 and allows Medicare finally to directly negotiate the price of drugs.

Similarly, we must address the increasing costs Americans are bearing at the hands of climate change. This bill's $369 billion investment in climate action will unleash a renaissance in clean energy technology, creating millions of new, high-paying manufacturing jobs, and build the next generation of American energy and transportation.

Madam Speaker, I support this legislation, and I call upon my colleagues, Democrats and Republicans, to pass this legislation.

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