Garamendi, Thompson vote to pass Build Back Better Act
- LAKE COUNTY NEWS REPORTS
On Friday, Lake County’s two members of the House of Representatives voted to pass the Build Back Better Act, which invests in families, workers, the economy and tackling climate change.
Congressman John Garamendi (D-CA-03), who represents the northern half of Lake County, and Congressman Mike Thompson (D-CA-05), who represents the county’s southern portion, were among the House members who voted to pass the legislation.
The bill passed the house in a vote of 220 to 213. It now heads to the Senate for consideration.
Thompson, chairman of the House Ways and Means Select Revenue Measures Subcommittee, said the legislation also includes his GREEN Act, which tackles climate change by providing tax incentives to reduce greenhouse gas emissions.
“This bill makes a historic investment in American workers, families and communities and includes the most ambitious climate policies ever passed by Congress, my GREEN Act. The bill is paid for,” Thompson emphasized.
He said the GREEN Act uses the tax code to increase the use of renewable energy, reducing greenhouse gas emissions enough to meet President Biden’s long-term emissions goals. “I’m deeply humbled that my legislation will play a key role in our nation’s effort to address the threat of climate change.”
“The ‘Build Back Better Act’ is the result of months of negotiations and compromise,” said Garamendi, who called it the largest relief package for the middle class in a generation.
“America has reached a positive turning point,” Garamendi said. “Right now, we have an opportunity to create the largest expansion of the middle class in a generation and show the American people that their government works for them — not just those at the top.”
For workers and families, the bill provides paid family leave, universal pre-K education for 3- and 4-year-olds and another year of expanded Child Tax Credit, a tax cut for working families.
“These programs invest in our children. In fact, the Child Tax Credit has already helped to cut child poverty in half,” Thompson said.
The Build Back Better Act also helps families get back into the workforce. It makes health insurance more affordable, supports local cities and towns, cuts taxes for homeowners, reduces the cost of medications and includes parts of Thompson’s Disaster Tax Relief Act to incentivize investments in disaster resiliency.
Garamendi said the bill is paid for by requiring the very largest corporations and wealthiest Americans — who often avoid paying any taxes at all — to finally pay their fair share. No one making under $400,000 will pay a penny more in taxes under this legislation, he added.
“All of this is supported without costing the middle class a single penny. No public school teacher, nurse or first responder should pay a higher tax rate than a billionaire. Yet that has been the case in America for far too long. The ‘Build Back Better Act’ rights this wrong and uses the revenue it generates to provide tax cuts, jobs, lower health care costs, and affordable housing for the middle class,” Garamendi continued.
He added, “The ‘Build Back Better Act’ is also our best shot to attack climate change and protect the air, water and land we all rely on for our children and grandchildren’s generations. With the ‘Build Back Better Act,’ we will finally unlock the green energy economy of the future we so desperately need.”
Benefits of the bill include the following.
Children, families and caregiving:
• Universal preschool for all 3- and 4-year-olds;
• Four weeks of paid family leave;
• Affordable high-quality child care;
• Affordable, high-quality care for hundreds of thousands of older Americans and people with disabilities in their homes and communities; and
• An expanded Child Tax Credit.
Clean energy and combating climate change:
• $320 billion in clean energy tax credits;
• $105 billion in resilience investments;
• $110 billion in investments and incentives for clean energy technology, manufacturing, and supply chains; and
• $20 billion in clean energy procurement.
Affordable care for millions of hardworking Americans through:
• Affordable Care Act premium tax credits;
• New tools to negotiate lower prices of medications;
• Ensuring Americans with diabetes don’t pay more than $35 per month for their insulin;
• Creating a new, out-of-pocket cap of $2,000 on what seniors pay for their drugs in Medicare Part D;
• Allowing Medicare to cover the cost of hearing.
Bringing down costs, reducing inflationary pressures, and strengthening the middle class through:
• $150 billion investment in housing affordability and reducing price pressures, including in rural areas;
• Education beyond high school and workforce;
• Earned Income Tax Credit for 17 million low-wage workers;
• Raising the State and Local Tax deduction cap to $80,000 through 2030.
There also are protections and work permits for millions of immigrants consistent with the Senate’s reconciliation rules.