Inflation Bill Gets Cheers From Montclair Mayor, Sherrill, Payne

MONTCLAIR, NJ — Responsible fiscal policy and “progressive solutions” can go hand-in-hand, according to Montclair Mayor Sean Spiller. And on Sunday, the U.S. Senate supported that belief when it narrowly passed the Inflation Reduction Act of 2022, he says.

Spiller, who also serves as the president of the largest teacher’s union in the state, was one of several Democratic elected officials from New Jersey who cheered the Senate’s passage of the bill, including U.S. Reps. Donald Payne Jr. and Mikie Sherrill.

The bill – a scaled-down version of what President Joe Biden’s administration originally proposed in the Build Back Better Act – impacts several areas, including education, labor, child care, health care, taxes, immigration and the environment.

In addition to providing funding for the above, it also includes provisions that:

• Provide free child care for children under the age of six
• Provide free universal preschool services
• Establish a methane fee for certain petroleum and natural gas facilities
• Expand Medicare to cover hearing care
• Allow certain aliens who entered the United States prior to January 1, 2011, to temporarily remain and work in the country
• Provide up to four weeks of paid family and medical leave per year
• Restructure and increase taxes for certain corporations and high-income individuals (e.g., individuals with income over $400,000)
• Require the Department of Health and Human Services to negotiate maximum prices for certain brand-name drugs under Medicare

The U.S. Senate narrowly passed the bill on Sunday, setting up a vote in the House of Representatives, which is expected this week. Both of New Jersey’s senators – Bob Menendez and Cory Booker – voted in its favor. Read More: Property Taxes, Drug Prices, Climate: 3 Ways Senate Package Impacts NJ

"This is not a perfect bill – it does not repeal the Republican-imposed SALT cap or reform our broken immigration system – but the benefits of this legislation for New Jersey families cannot be understated," Menendez said.

See the bill’s full text here. See the nonpartisan Congressional Budget Office analysis of the bill here.

Spiller said he’s hopeful that Montclair’s two representatives in the House – Payne in the 10th District and Sherrill in the 11th District – will vote yes on that chamber’s version of the bill.

“With the Inflation Reduction Act, Congressional Democrats are showing what we have already proven in Montclair – that responsible fiscal policy and progressive solutions go hand-in-hand,” Spiller said.

“In Montclair, we've reduced our debt by more than $77 million while making critical investments in our future,” the mayor continued. “The Inflation Reduction Act will reduce our national deficit, lower the cost of prescription drugs, protect our environment, and increase our domestic energy production.”

“While Republicans continue to offer zero policies that actually benefit the American people, Montclair is fortunate to be represented by Democrats Congresswoman Mikie Sherrill and Congressman Donald Payne, who we know will work hard to get this bill over the finish line in the House,” he added.

• See related article: Montclair Council Approves Town Budget, 2 Percent Tax Hike
• See related article: Montclair School Board Approves Budget; Staff Cuts Loom

Sherrill released a statement of support for the bill on Sunday, saying that she plans to vote in its favor. She wrote:

“We all know how high the cost of living is in Northern New Jersey. I ran for Congress to tackle those costs on behalf of the people of the 11th Congressional District. That’s exactly why I’m voting for the Inflation Reduction Act of 2022. After three decades of politicians in Washington talking about lowering prescription drug prices, I'm proud to have helped force Congress to actually drive drug costs down and empower New Jersey families as we battle global inflation. This bill also invests in the next generation by creating good-paying jobs in clean energy and addressing the climate crisis. In cracking down on tax evasion and ensuring that our largest corporations are helping to fund America’s innovation economy, this bill makes the tax code fairer for our middle-class families and increases opportunity. By investing in the middle class, we are making life more affordable for families in New Jersey. The groundbreaking of the Gateway Tunnel Project, the passage of the CHIPS and Science Act, the strong July jobs report, and the current 50-day streak of lower gas prices at the pump all highlight the impact of our investments in families and communities. I will continue to work to bring costs down even further.”

“I will also remain steadfast in my commitment to ensuring that any discussion of reforms to the 2017 tax law begins with addressing SALT,” Sherrill added. “Because this legislation does not raise taxes on families in my district, but in fact significantly lowers their costs, I will be voting for it.”

• See related article: Inflation At 40-Year-High Nationally; How NJ Compares

Payne also praised Sunday's vote in the Senate and said he plans to vote "yea" on the House version.

"This bill will clean the environment, create new jobs in energy technology, make sure corporations pay their fair share in taxes, and significantly reduce the prices of life-saving medications for millions of Americans," Payne told Patch.

Payne said he is "extremely disappointed" that the majority of Senate Republicans refused to allow American diabetics with private insurance to benefit from a $35 cap on insulin payments.

"As a diabetic and insulin user, I understand that diabetics need this medication to stay alive. Compared to Canada and European countries, American companies have been overcharging for insulin and profiting off the backs of diabetics for years," Payne said. "It forces too many diabetics to choose between food or medicine. No American should have to make that choice."

"However, this is a good bill that will provide numerous benefits to American families and the economy and I plan to support it when the bill comes up for a House floor vote this week," Payne said.

• See related article: Rep. Payne Of NJ Has Personal Link To Drug Costs Bill – Diabetes
  
• See related article: Federal Bill Would Lower Prescription Drug Costs For NJ Seniors: AARP

Not all forecasts have been as rosy for the Inflation Reduction Act, however. Some economic analyses, including from the Congressional Budget Office, found that the legislation would have little to no impact on inflation this year, The New York Times reported.

The current version of the bill has also seen criticism from Sen. Bernie Sanders, an independent from Vermont, who said it doesn’t go far enough and will have a “minimal impact on inflation,” Fox News reported.

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