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As the United States faces decades-high inflation, people across the country are looking to lawmakers for respite.
Democratic Rep. Colin Allred of Texas joined ABC News on GMA3 to discuss the Inflation Reduction Act, a sweeping climate, tax and health care package that the Senate passed over the weekend. The bill is now set for a vote in the House this week.
ALLRED: Well, it’s going to help you lower the cost of your health care. For the first time in so long, that we’ve been pushing for this, Medicare is going to have the ability to negotiate to lower the cost of prescription drugs. And it will be the drugs that we don’t have the market mechanisms to hold down the costs… So those are the ones that are really hitting families the hardest.
It’s also going to make sure that, if you’re using the individual market, that your rates stay low. That’s something we started in the American Rescue Plan. It’s extended those benefits.
But also for your homes, it’s going to encourage you — to give you tax credits toward getting more efficient energy use in your home, but also more efficient energy grids. So it should lower your costs overall in terms of what you’ll be paying to keep the lights on and the AC on, which we’re needing a lot of here in Texas right now.
ALLRED: Well, it lowers costs. And that’s also a way of combating inflation, because when you have to spend more in some areas, if you can lower costs in other areas, that’s basically the same thing in terms of balancing out your budget and trying to help working families get by.
