CHARLESTON, WV (WOWK) — It’s already passed the U.S. Senate, but Friday it was up for a vote in the House of Representatives. It’s known as the Inflation Reduction Act of 2022.
The bill passed the House of Representatives on Friday, Aug. 12, in a 220-207 party-line vote with four Republicans not voting.
Despite the heated debate, no one on either side can really prove if this will help inflation or make it worse. It’s just a wait and see.
The bill plans to spend $740 billion on items such as clean energy, with $300 billion for deficit reduction.
It would also add more money for health care and let Medicare negotiate lower prescription prices for seniors. It also has a provision to put a 15% tax on corporations and profitable high tech firms that have big tax shelters to help them. West Virginia’s Congressional delegation has split along party lines.
“It’s not a reduction. It’s an expansion. It will raise our taxes, stifle our energy industry and worsen our recession. I am voting no on this disappointing bill,” said Rep. Carol Miller, (R) West Virginia.
“I just can’t figure it out, why people are looking for everything they can to villainize. We’ve never had a more balanced bill where we have a pathway forward,” said Sen. Joe Manchin, (D) West Virginia.
The bill has also divided many in the energy industry. The coal associations in seven states, including West Virginia, are against it. The United Mine Workers of America union supports it.