Maloney Statement on Passing President Biden’s Build Back Better Act

Nov 19, 2021
Press Release

WASHINGTON, DC – Today, Congresswoman Carolyn B. Maloney (D-NY), Chairwoman of the House Committee on Oversight and Reform, issued the following statement after voting for H.R. 5376, the Build Back Better Act.

 

“Investing in our nation’s infrastructure means not just funding bridges and roads, but also addressing climate change and creating a care economy that lifts children out of poverty and supports working families.

 

“The Build Back Better Act will be the most life-changing investment in families in generations, bettering the lives of millions of children, saving parents thousands of dollars, and adding two years of free, universal pre-k education for the first time. Additionally, it would authorize the first-ever, universal, comprehensive paid leave benefit for all U.S. workers and expands and improves the Child Tax Credit, the biggest tax cut for working families with children.

 

“This bill is the biggest expansion of affordable health care in a decade and will provide access to affordable coverage in the Affordable Care Act (ACA) Marketplaces to roughly 4 million uninsured Americans who live in states that have not expanded Medicaid coverage under the ACA.

 

“The Build Back Better Act will also make prescription drugs more affordable and give Medicare the ability to negotiate lower drug prices, something I have prioritized in my role as Chairwoman of the House Oversight and Reform Committee. Seniors will pay no more than $2,000 per year out of pocket for their drugs under Medicare. This bill will also ensure Americans with diabetes don’t pay more than $35 per month for their insulin.

 

“And at my urging, the Build Back Better Act also provides $2.86 billion to the World Trade Center Health Program, which provides medical treatment and monitoring for more than 110,000 responders and survivors across the country - 2,800 of whom live in my district.

 

“Critically, this package will be the largest effort to combat climate change in history. I am proud that the Build Back Better Act includes provisions my Committee championed to electrify the federal government’s vehicle fleet and make the federal government a leader on combatting climate change. I’m also proud of our work to fund the implementation and oversight of important environmental justice priorities.

 

“Importantly for my district, the package also includes $65 billion to address the nation’s public housing capital backlog, which will provide substantial funding to address pressing needs at NYCHA developments across the City’s boroughs.

 

“This package will cut taxes for tens of millions of middle-class families by making big corporations and the wealthiest pay their fair share. No American making less than $400,000 will pay a penny more in taxes. It also increases the deduction allowed for state and local taxes to ensure that high cost of living states like New York can fund schools, public transit, emergency services, and other critical government operations.”

 

“Today, I proudly supported an agenda that will grow the economy so that every American, regardless of their background, can get ahead.”

 

Background

The Build Back Better Act focuses its investments in the following three key areas:

 

  • Lower Health Care Costs
    • Finally negotiating lower drug costs for seniors and halting Big Pharma’s outrageous price hikes above inflation for all Americans.
    • Ensuring Americans with diabetes don’t pay more than $35 per month for their insulin.
    • Creating a new, out-of-pocket cap of $2,000 on what seniors pay for their drugs in Medicare Part D.
    • Expanding the ACA to make coverage more affordable for those who buy insurance on their own. Dramatically lowers premiums in the ACA Marketplace, with individuals seeing a reduction in their premiums of more than $800 per year. Expands the ACA to cover those in the states that have refused to adopt the Medicaid expansion.
    • Helps older Americans access affordable hearing care by expanding Medicare.

 

  • Lower Child Care & Family Care Costs
    • Saves most families more than half their current spending on child care, ensuring the vast majority of families will have to pay no more than 7 percent of their income for child care.
    • Expanding the basic promise of free schooling in America for the first time in 100 years with universal pre-school for all 3- and 4-year olds.
    • Establishes a universal and permanent paid family and medical leave program, providing four weeks of paid parental, family caregiving, and medical leave.
    • Gives more than 35 million families a major tax cut by extending the Biden Child Tax Credit.
    • Expands access to high-quality home care for older adults and people with disabilities.
    • Cuts the cost of postsecondary education, with such steps as increasing the maximum Pell Grant.
    • Reduces families’ housing costs and expands housing options, with a major housing initiative.

 

  • The Largest Investment to Combat Climate Crisis in History
    • Build Back Better is the largest effort to combat climate change in American history, investing $555 billion over 10 years in clean energy and climate investments.
    • Green tax credits will save the average American family hundreds of dollars per year in energy costs.
    • Ensures clean energy technology – from wind turbine blades to solar panels to electric cars – will be built in the United States, creating hundreds of thousands of good jobs here at home.

 

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