IFPTE Supports Passage of Inflation Reduction Act of 2022
FOR IMMEDIATE RELEASE
WASHINGTON, DC – International Federation of Professional and Technical Engineers’ (IFPTE) President Matt Biggs and Secretary-Treasurer Gay Henson released the following statement regarding the Inflation Reduction Act of 2022:
“IFPTE applauds President Biden and Leader Schumer for negotiating a deal that will benefit working families. In particular, we are pleased that the legislation fulfills a longstanding policy objective of IFPTE by finally permitting the federal government to negotiate Medicare prescription drug prices. While we wish the authority to negotiate prices was much more comprehensive, this bill will reduce out-of-pocket spending for seniors covered under Medicare and working families covered under private insurance – an important first step in the right direction. It will provide real and significant benefits to working families and the healthcare plans that serve them, while at the same time generating almost $300 billion in savings for U.S taxpayers.”
“The bill will also create immediate relief in terms of energy costs for working families and plot a path forward for significant reductions in carbon emissions. IFPTE represents thousands of workers throughout North America who are employed in the nuclear industry and other clean energy sectors, and we look forward to continuing to work with the administration to ensure that investments in a greener economy create jobs that include a living wage, and workplace rights.”
“IFPTE is pleased that the legislation is funded in a progressive way, particularly by requiring that multinational corporations that have evaded taxes for years finally pay their fair share. We are, however, disappointed that the deal misses a major opportunity to add even more revenue by adopting provisions of the PRO Act to increase penalties for employers who violate the law when their workers exercise their right to join a union, collectively bargain and negotiate in good faith. As lawmakers continue to finalize the legislation, we urge them to include this worker friendly, revenue raising provision.”
“At the end of the day, IFPTE supports the course that this legislation plots for our nation with regard to reducing inflation, lowering prescription drug costs, moving toward a greener economy, and maintaining and growing good paying, union represented jobs. IFPTE calls on members of both parties to support this landmark legislation, with some minor improvements, and move our nation closer - in many significant ways - toward becoming a more perfect Union.”
Across the United States and Canada, IFPTE represents 90,000 highly skilled workers in the federal, public, and private sectors. IFPTE is an affiliate of the AFL-CIO and the CLC. More information can be found at www.IFPTE.org.
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