| (Arlington, VA) – Today, The LIBRE Initiative, an organization committed to empowering the Hispanic community, issued a statement strongly criticizing the U.S. Congress for enacting the misnamed and misguided Inflation Reduction Act (IRA) – legislation that will result in hundreds of billions of dollars in new taxes and spending.
In addition to additional billions of new spending, IRA also sets a dangerous precedent for harmful government price controls for prescription drugs which will result in less patient access to innovative cures.
Click Here to see a video from Daniel Garza, president of LIBRE,
explaining our opposition to IRA
Ivette Diaz, director of issue education for The LIBRE Initiative, issued the following statement following the passage of the “Inflation Reduction Act:”
“At a time when most U.S. Latinos are struggling to make ends meet and provide for their families, Washington is continuing to spend billions of dollars in the form of electric car subsidies, and tax credits to help the green energy lobby.
This legislation will do nothing to address the Latino community’s most urgent needs, including bringing down the cost of everyday goods and energy prices.
And despite claims that the bill’s tax increases will only impact the wealthiest, the considerable beefing up of additional IRS agents will mean that many middle-class Americans and middle-class businesses will have to spend considerable time and energy with audits while the well-connected and well-off hire an army of lawyers and accountants to fight the IRS.”
Diaz continued:
“Finally, among the most noxious provisions in the “Inflation Reduction Act” includes government price controls for prescription drugs. Empirical evidence tells us that imposing drug price controls will result in higher prices and less innovation, but we also know from first-hand experience – and from speaking with our families in Latin America – that government run health care is a fool’s errand. Socialist price controls will lead to fewer new cures, less research and development for cancer research and will increase health care spending by $50 billion over the next two decades.
We will mobilize our army of grassroots volunteers, activists and staff to educate the Hispanic community about this monstrosity of a bill that will do little to fight inflation.”
Background
- The LIBRE Initiative sent a letter to Members of Congress opposing insulin price control legislation. Complete letter can be found here.
- The LIBRE Initiative has been touring the country educating the Hispanic community about the True Cost of Washington – and how Washington policies are exacerbating inflation and hurting many Americans – including the Hispanic community. Click here to read more about LIBRE’s efforts here.
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