One of the state’s top Democrats tackles U.S. Senate candidate Ted Budd’s vote against the Inflation Reduction Act, which addresses climate change and healthcare costs.
[Editor’s Note: Dr. Bobbie Richardson is the chair of the North Carolina Democratic Party.]
This week, President Biden signed the Inflation Reduction Act into law. This historic bill is going to do just what its name says – reduce inflation and lower costs for working families.
Together, the president and Democrats delivered a historic legislation that will defeat special interests, tackle the climate crisis and grow the economy from the bottom up and middle out. Meanwhile, Republicans, including Congressman Ted Budd, voted against this bill, choosing to side with Big Pharma and protect special interests.
What did Budd and Republicans vote against? For starters, the Inflation Reduction Act is a win for health care. It will put a cap on out-of-pocket prescription drug costs for seniors at $2,000. It will also lower health insurance costs for 13 million Americans who get their insurance through the Affordable Care Act exchanges. Lastly, it will protect Medicare for current and future generations and allow Medicare to negotiate prescription drug costs.
This bill will lower the federal deficit and help fight inflation. In addition to lowering costs, the Inflation Reduction Act makes the largest investment in history to combat the climate crisis, taking historic steps to lower emissions and protect our country from the effects of climate change. The list goes on.
It does all of this by making big corporations pay their fair share without raising taxes on families making under $400,000 a year. However, while Democrats are focused on fighting inflation and tackling the climate crisis, Ted Budd and Republicans can’t say the same.
Congressman Budd’s vote against the Inflation Reduction Act isn’t surprising. In Washington, Budd has consistently sided with corporate special interests like Big Oil and Big Pharma that are price gouging North Carolinians, so it’s no surprise that he voted against a bill that would hold them accountable and bring down costs.
Budd also said he ‘agreed with major points’ of Republicans’ extreme agenda to cut Medicare and Social Security, putting over four million people in North Carolina’s hard-earned benefits at risk, and raising taxes for nearly 40 percent of North Carolinians.
Ted Budd likes to point fingers and pass blame for rising prices, but when it comes to working to lower costs he’s actively opposing measures that would help North Carolinians save on anything from their prescriptions, gas, and energy bills.
Opposing the Inflation Reduction Act is a small preview into how Congressman Budd would vote as a Senator, but it speaks volumes. We can’t afford Ted Budd in the U.S. Senate. This November, North Carolinians aren’t going to forget that Ted Budd chose protecting corporations over lowering costs and he should have to explain to voters exactly why.