Thread by @didikins4life

STATEMENT from #WhiteHouse PLEASE read!>>Congressional Republicans have laid out their mega MAGA trickle-down economic plan clearly. Their economic plan will raise costs and make inflation worse. Their five part plan includes:
1/24 #BlueIn22 #RepublicansAreHarmfulToAmericans

$3 trillion in tax cuts skewed to the wealthy – which would add to the deficit and make inflation worse  2/24 #RepublicansAreHarmfulToAmericans #VoteBlueIn2022

“GOP wants to push to extend Trump tax cuts… Republican lawmakers gear up to push 2017 tax law after midterm elections, despite potential impact on inflation.” Washington Post 10/17/22 #RepublicansAreTheProblem #VoteBlueIn2022

Congressional Republicans are calling for extending expiring provisions of the Trump tax cuts and repealing Inflation Reduction Act (IRA) provisions that require large, profitable corporations to pay taxes & stop wealthy people & corporations from cheating on their taxes. 4/24

These tax policies would add about $3 trillion to deficits over 10 years, Congressional Budget Office & Joint Committee on Taxation estimates show. By adding to near-term deficits,the tax cuts would increase inflation and work against efforts to bring inflation down in 2023. 5/24

And, these tax cuts would disproportionately benefit the wealthy. Under the Congressional Republican plan,the top 0.1 percent of Americans (with incomes over $4 million per year) would get tax cuts averaging over $110,000 per year,Tax Policy Centerestimates show. #VoteBlueIn2022

That’s an annual tax cut that exceeds the typical American household’s total annual income. 7/24 #TaxCutsForTheRich #RepublicanWarOnAmericanFamilies

Raising prescription drug costs for millions of seniors
“House GOP eyes repeal of Dems’ drug pricing law … Some key House Republicans are calling for the repeal of Democrats’ newly-passed drug pricing measure.” Axios 9/23/22 #republicanwaronseniors #VoteBlueIn2022 8/24

“Because those drug provisions are so dangerous… I would imagine [repealing the Inflation Reduction Act’s prescription drug policies] will be a top priority for Republicans in the new session.” Rep. Kevin Brady (Ranking Member, Ways and Means Committee)
#BlueIn22 9/22

Repealing the IRA prescription drug provisions would increase #prescriptiondrugprices by eliminating the requirement that drug companies pay rebates to #Medicare when they raise prices faster than inflation, as they did for 1,200 drugs from 2021-2022. #InflationReductionAct 10/24

It would expose millions of Medicare beneficiaries to the risk of higher costs by eliminating the IRA’s $2,000 cap on drug costs at the pharmacy, and immediately increase #Medicare beneficiaries’ costs for #insulin. #BlueIn22 11/24

*Increasing health insurance premiums*
#Republicans are purporting that the #IRA provisions making Affordable Care Act (#ACA) premiums more affordable “bribe people into Obamacare,” #BlueIn22 12/24

Repealing the #IRA improvements to #ACA premium tax credits would raise health insurance premiums by an average of about $800 for 13 million people starting next year, with about 3 million people becoming #uninsured. #BlueIn22 13/24

And if #CongressionalRepublicans repeal the #IRA provision that lets middle-class people get #ACA premium tax credits, a 60-year old making $60,000 would pay over $10,000 for marketplace coverage in most states, versus half that today. #RepublicanWarOnHealthcare 14/24

GOP leaders have discussed using the debt limit &government shutdown fights to press for cuts to clean energy spending /which many experts view as necessary to slow #climatechange/ approved as part of the Inflation Reduction Act, Biden’s signature economic legislation.”WaPo 10/25

The GOP plan will eliminate tax credits that will save Americans thousands of dollars starting next year if they buy an electric vehicle, weatherize homes, install a super-efficient heating/cooling system like a heat pump, install rooftop solar, or make other investments..16/24

Independent experts expect these #cleanenergy provisions will cut households’ electricity bills by hundreds of dollars per year. #BlueIn22 #IRA 17/24

Republican officials are suing to block the Biden admin #studentdebtrelief plan.If they succeed, that would mean higher debt payments for the over 40 million Americans who could benefit from up to $20,000 in student debt relief. #BlueIn22 18/24

BONUS: Congressional Republicans are threatening the global economy to cut #SocialSecurity or #Medicare  
#BlueIn22 19/24

Sen. Rick Scott has called for putting #Medicare and #SocialSecurity on the chopping block every five years. Sen. Ron Johnson has gone even further and said Medicare and Social Security should be put up for a vote every single year. #republicanwaronseniors #VoteBlueIn2022 20/24

Congressional Republicans keep declaring they will hold the American economy hostage by putting the full faith &credit of the US at risk in order to cut #Medicare & #SocialSecurity. Rep. Kevin McCarthy endorsed the idea;Rep. Nancy Mace said Sunday “I support this strategy.”21/24

And the Republican Study Committee, which represents a majority of House Republicans, has proposed a specific plan to cut #Medicare and #SocialSecurity benefits, including through privatization and raising the eligibility age. #ProtectOurEarnedBenefits #VoteBlueIn2022 22/24

Congressional Republicans will deny seniors’ benefits they have already paid into.
#ProtectOurSocialSecurity #ProtectMedicare #EarnedBenefits #VoteBlueIn2022 23/24

Thank you for reading this thread.The issues presented in this White House statement are vital to the wellbeing of our #Democracy and all our citizens.Please #VoteBlueIn2022 to protect our #EarnedBenefits #Healthcare #economy #Students #Seniors #Families #Workers #Earth 24/24