Two Days after MAGA leader McCarthy campaigns for Fung, Fung announces opposition to Inflation Reduction Act
“Allowing Medicare to negotiate drug prices and capping out-of-pocket prescription drug costs will be life-changing for Rhode Islanders who are struggling to pay for the healthcare they need. Rhode Island families need relief from rising healthcare and energy costs and this bill does both.” said General Treasurer and congressional candidate Seth Magaziner.
On Saturday, McCarthy hosted a secretive exclusive fundraiser for Fung in Jamestown. Now, two days later, Fung announced his opposition to this historic legislation that will lower the cost of prescription drugs, close tax loopholes for billionaires, and fight climate change.
“Allan Fung has shown over and over he will stand with extremist national Republicans who will put the interests of billionaires before seniors and hard-working families,” said Magaziner for Congress Communications Director Patricia Socarras. “When people tell you who they are, believe them.”
The
Inflation Reduction Act was passed by Senate Democrats yesterday and is headed
to the House where it is expected to pass. The historic legislation
allows Medicare to negotiate drug prices for the first time, caps out-of-pocket
costs at $2,000 for drugs, protects Affordable Care Act subsidies,
invests billions in the clean energy economy, and imposes a 15% minimum tax on
corporate profits for businesses that earn at least $1 billion a year.