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https://www.chuckschumer.com/issues/economy/
Updated On: Nov 02, 2022

For too long, big corporations and the wealthy have gotten even richer, while working Americans got left behind. When Republicans were in control of Congress and the White House, they passed billions of dollars in tax cuts for the wealthy and corporations, and did nothing to help working families get ahead.

But Chuck Schumer puts working families first. As Senate Majority Leader, he passed the Inflation Reduction Act – without a single Republican vote. From fighting inflation to lowering the cost of health care to making corporations pay their fair share, the Inflation Reduction Act is one of the most important bills ever passed to support working Americans.

The Inflation Reduction Act

  • Lowers the cost of health care by allowing Medicare to negotiate drug prices for seniors, capping the cost of insulin co-pays and out-of-pocket drug costs for Medicare recipients and expanding the Affordable Care Act
  • Lowers energy costs by providing tax credits and incentives for clean energy
  • Creates good-paying union jobs and invests in American manufacturing to build a clean energy economy
  • Makes corporations pay their fair share in taxes, while not raising taxes on any family making less than $400,000 per year
  •  Bipartisan CHIPS and Science BillAfter years of advocacy, the Senate passed Chuck’s historic CHIPS and Science bill to help lower costs for families, address inflation, and strengthen national security. The bill provides billions in funding to manufacture more microchips in America, especially in Upstate New York, where — after years of relentless Schumer advocacy — Micron has announced it will invest $100 billion and build the world’s largest memory chip super-fab. Upwards of 50,000 jobs will be created. 

The vast majority of microchips are currently manufactured in East Asia, but the Bipartisan CHIPS and Science bill will bring manufacturing back to America and invest in critical technology and research so New York and the country can lead the world in innovation.

Bipartisan Infrastructure Bill

After years of Donald Trump claiming “Infrastructure Week” was coming, Chuck Schumer delivered what Trump never did: historic investments in American infrastructure. Roads. Bridges. Broadband. Water-sewer systems and more. 

The Bipartisan Infrastructure & Jobs Bill will deliver over $1 trillion to rebuild and revitalize America’s physical infrastructure, powered by good-paying union jobs

  • Expands access to clean water and eliminates toxic lead pipes
  • Ensures every American has access to reliable high-speed internet
  • Repairs and rebuilds American roads and bridges
  • Invests in public transit like trains, buses and passenger rail to connect communities and lower greenhouse gas emissions
  • Upgrades ports and airports to minimize disruptions to supply chains and the economy
  • Build a network of electric vehicle chargers across the United States
  • Upgrades the American energy grid to deliver clean, affordable energy and make our energy system more resilient to the effects of climate change
  • Invests in communities harmed by decades of pollution by cleaning up Superfund sites and former industrial and energy sites

 
 
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