Here’s What the Inflation Reduction Act Will Do For You


I’m proud to be a third-generation Nevadan. I had a grandfather who worked in the casinos and a grandmother who worked retail her whole life. When they retired, all they wanted was to retire with dignity. They relied on their Social Security and Medicare. And I remember I used to sit down with my grandma while she was going through her notebook where she kept all her bills, helping her figure out how to budget and make things work. She needed to pay her energy bills, her groceries, and a roof over her head, among other things. And I remember thinking, “nobody should have it this tough after working so hard in this state.”

 

I carry those memories with me every day as Nevada’s senator. It’s why I have always fought to protect Medicare and Social Security and worked hard to lower costs for Nevadans.

 

We’re all feeling the impacts of inflation. I hear from my mother every time she goes to the grocery store and from people in every corner of our state, too.

 

That’s why I fought so hard to pass the Inflation Reduction Act, critical legislation to cut costs for our families. This new law is going to bring down prescription drug and health care costs, fight inflation, cut the deficit, and create clean energy jobs in Nevada.

 

It’s going to do all that by closing tax loopholes for the ultra-wealthy and making sure corporations pay their fair share, just like everyone else. It cracks down on the billionaires and tax cheats who pay ZERO in taxes and leave middle class families to pick up the tab.

 

Not a single Nevadan making under $400,000 will see any change in their taxes owed. In fact, this law will save $300 billion in taxpayer money and reduce the deficit.

 

Since the passage of the Inflation Reduction Act, I’ve met with seniors in Las Vegas and Reno whose health care costs were having serious impacts on their abilities to retire comfortably. Nevadans across the state are going to feel the positive impact of this law. It’s going to save our seniors money, and it’s going to save lives, as well.

 

Thanks to this law, the out-of-pocket cost of insulin for Medicare recipients will now be capped at $35 a month. That will make life-saving medication affordable for thousands of Nevada seniors with diabetes who desperately need it.

 

One of the seniors I met with last week, Honey, pays $100 for her insulin. But now, she’ll only have to pay $35 per month. That’s going to make a huge difference and help her and so many other Nevadans live more comfortably and not have to worry about how they’ll pay for the medicine they need.

 

For decades, Big Pharma lobbyists prevented Medicare from negotiating lower drug prices. AARP and other pro-consumer groups helped change that. The Inflation Reduction Act finally allows Medicare to use its purchasing power to lower drug prices. That’s a great deal for those who need life-saving medicine and for taxpayers.

 

While we’re lowering costs, we also need to prepare for our future. The Inflation Reduction Act will help us combat climate change and create thousands of good-paying jobs in solar, wind, and geothermal energy. No state is better positioned to capitalize on these investments than we are here in Nevada. That’s going to give an incredible boost to our economy and keep us on the front lines of a clean energy future.

 

Right now, the drought crisis we’re experiencing is impacting our daily lives. We’ve all seen Lake Mead and read the stories about the water levels at record lows. That’s why I fought to deliver an additional $4 billion to address the drought in the west and bring more water into Nevada.

 

The Inflation Reduction Act is going to strengthen our economy and make life easier for Nevada families and our seniors.

 

We’re facing unprecedented challenges, and it’s more important than ever that we have leaders in office who will work hard for Nevadans and always put our state first. I promise you this: I will continue fighting to lower costs, create good-paying jobs, and make sure our economy works for every single Nevadan.

Nevada Politics Opinion-Editorial