Pallone Applauds President Biden’s Budget Investments in the American People
Energy and Commerce Ranking Member Frank Pallone, Jr. (D-NJ) released the following statement today applauding President Biden’s fiscal year 2025 budget proposal:
“Budgets are more than numbers and dollars – they are an expression of priorities, choices, and values. President Biden’s budget proposal makes good on his commitment to grow the middle class from the bottom up and move our country forward. It’s a vision for building a stronger economy with investments to create new, good paying jobs that can’t be shipped overseas, lower health care and prescription drug costs, and boost American manufacturing. It’s a vision for a stronger, better America for everyone.
“I join President Biden in his commitment to strengthening Medicare and reining in the costs of prescription drugs. Thanks to our partnership, Medicare is now actively negotiating lower drug prices, the price of insulin has been capped at $35 per month, and starting next year seniors’ out-of-pocket costs on prescription drugs will be capped at no more than $2,000 a year. This is progress we can and must build on, and that’s why I’m pleased the President proposed increasing the number of prescription drugs that can be negotiated by Medicare each year. His budget also makes permanent the expanded premium tax credits for Affordable Care Act marketplaces that are helping four in five American families find health insurance for $10 a month or less.
“I also strongly support the President’s vision for building on the Inflation Reduction Act, which under his leadership, became the single-largest investment in climate action in American history. In just over a year, these investments have already created more than 271,000 jobs and 523 clean energy projects across 47 states – proof we can act on climate while creating hundreds of thousands of new, good-paying jobs right here at home. We must keep that momentum going, and the President’s budget does just that by continuing our efforts to lead the world in the clean energy transition.
“Likewise, I applaud President Biden’s proposal to fully fund the Affordable Connectivity Program. Before this landmark program, the rising costs of internet service prevented millions of Americans from getting the internet connections they need to fully participate in today’s economy. Now this program is helping over 23 million families stay connected – that’s 23 million reasons to keep this important program funded.
“In stark contrast, House Republicans have proven completely incapable of governing, let alone offering a coherent vision for the future. Since taking the House Majority at the beginning of this Congress, Republicans have achieved nothing apart from visiting unfettered chaos and dysfunction on the People’s House as they work to drag our country backward. They have proven singularly focused on protecting corporate profits rather than growing our economy or lowering costs, and we will vigorously oppose their efforts to imperil Americans’ health care, environment, and economy.”
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