Unrig Our Economy Calls on Congressman David Valadao to Support the Inflation Reduction Act
BAKERSFIELD — Senate Democrats voted Sunday to pass the Inflation Reduction Act of 2022 — a landmark piece of legislation that will combat corporate greed, make wealthy corporations pay their fair share in taxes, and reduce costs for working people. Unrig Our Economy Central Valley released the following statement on the legislation:
“The Inflation Reduction Act is a win for working families. This legislation, which was opposed by every Republican Senator, stops the price-gouging of pharmaceutical companies by lifting the ban on Medicare negotiating lower prescription drug prices and lowering health insurance costs for 13 million Americans.
It also establishes a 15 percent corporate minimum tax and one percent stock buybacks tax to ensure working people aren’t paying more in taxes than some of the country’s largest corporations, and that corporations are disincentivized from spending trillions of dollars on stock buybacks to wealthy shareholders and executives.
This bill will now be considered by the U.S. House of Representatives, and we call on Rep. David Valadao (R-Bakersfield) to support the bill. It’s time for him to stop siding with multibillion-dollar corporations and do what’s right for his constituents.”