WASHINGTON – Today, Congresswoman Nikema Williams (GA-05) voted to pass the Inflation Reduction Act. Included in the Inflation Reduction Act are multiple provisions championed by Congresswoman Williams including:
Congresswoman Williams said:
“Passing the Inflation Reduction Act keeps Democrats’ promise to deliver wins for the American people they can feel today with the effects lasting for generations to come. We are reducing healthcare costs, combating climate change, and so much more. All of these investments will lower costs and create more jobs for Georgians.
“We must improve the lives of the American people now, and this legislation is only the beginning. I will keep fighting for policies that build on the Biden-Harris Administration’s commitment to equity, by investing in the care economy, increasing access to dignified housing, and correcting the historic injustice of underfunding our HBCUs.
“This is about putting people over politics—no matter your ZIP Code, no matter your bank account. And once President Biden signs the Inflation Reduction Act into law, I will secure every resource available in the bill for the people of Georgia’s Fifth Congressional District.”
This legislation will bring down costs for working Georgians while building a cleaner economic future across the country, taking action to:
- Lower prescription drug prices: empowering Medicare to negotiate the price of prescription drugs, preventing excessive price hikes and capping seniors’ out-of-pocket drug costs at $2,000.
- Lower health care costs: reducing 701,135 Georgians’ premium costs by extending ACA subsidies for three more years, locking in average annual savings of $800 per person.
- Lower energy costs: saving Georgia families an average of $1000 per year on their energy bills.
- Lower the deficit and help fight inflation: making an historic down payment on deficit reduction of approximately $300 billion.
- Deliver America’s largest-ever climate investment: supporting domestic energy production, creating nine million good-paying union jobs and reducing carbon pollution by roughly 40 percent this decade.
According to 126 leading economists – including seven Nobel Prize winners, three former chairs of the Council of Economic Advisers, two former Treasury Secretaries – the Inflation Reduction Act “will fight inflation and lower costs for American families while setting the stage for strong, stable, and broadly-shared long-term economic growth.”
The Inflation Reduction Act also honors Democrats’ promise: no new taxes on families making $400,000 or less and no new taxes on small businesses. This legislation is fully paid-for by ensuring that large corporations and the ultra-wealthy pay their fair share:
- Strengthening IRS enforcement against wealthy tax cheats.
- Closing tax loopholes exploited by the wealthiest few.
- Implementing a 15 percent corporate minimum tax on billion-dollar companies and a 1 percent tax on corporate stock buybacks.
An overwhelming majority of the American public supports the Inflation Reduction Act’s key health care, climate and inflation-fighting measures. Data for Progress found that 73 percent of voters back the Inflation Reduction Act, including 95 percent of Democrats, nearly three-quarters of Independents, and more than half of Republicans. This legislation also enjoys broad support from a wide range of advocacy organizations, including the AFL-CIO, Natural Resources Defense Council, League of Conservation Voters, AARP, UnidosUS, Small Business Majority, Protect Our Care and U.S. Conference of Mayors.
Congresswoman Nikema Williams proudly serves Georgia’s Fifth Congressional District. Congresswoman Williams serves on the exclusive Financial Services Committee where she is Vice Chair of the Oversight and Investigations subcommittee, the Transportation and Infrastructure Committee, and the Select Committee for the Modernization of Congress. She is Freshman Class President and Co-Chairs the Congressional Voting Rights Caucus. Congresswoman Williams builds on the Fifth District’s legacy as the cradle of the civil rights movement as a champion of voting rights, closing the racial wealth gap, and ensuring the promise of America for all–regardless of their ZIP code or bank account.