Senator Hassan Took on Corporate Special Interests to Pass this Legislation that Will Lower Prescription Drug and Energy Costs for New Hampshire Families
By opposing the Inflation Reduction Act, Senator Hassan’s Republican opponents are once again siding with Big Oil and Big Pharma over Granite Staters. Corporate special interests strongly oppose this bill, which will bring down prescription drug prices and energy costs for New Hampshire families, as well as take important steps to reduce the deficit, build a clean energy economy, and address inflation.
“By opposing the Inflation Reduction Act, the Republican candidates have once again made clear that they are running to be shills for Big Oil and Big Pharma’s agenda – not fighters for New Hampshire. Unlike her opponents, Senator Hassan will never be intimidated by corporate special interests and will proudly take on anyone she needs to in order to deliver for New Hampshire,” said Maggie for NH spokesperson Kevin Donohoe.
Senator Hassan took on Big Pharma and Big Oil to help pass this legislation. She fought to ensure that the bill would allow Medicare to negotiate drug prices – which will lower prescription drug costs. The bill also includes a bipartisan energy tax cut that Senator Hassan previously authored to help families reduce their energy bills by making their homes more energy efficient. And the legislation doubles the Research and Development (R&D) tax credit, a measure Senator Hassan fought to include and that will provide critical cost-savings for innovative businesses.
The Inflation Reduction Act will help lower costs while not raising taxes on New Hampshire families making $400,000 or less – a fact that even Mitch McConnell has admitted to. Instead, it ensures that the largest corporations and the wealthiest individuals are paying their fair share – helping to reduce the deficit and combat inflation.
The Inflation Reduction Act builds on Senator Hassan’s work to lower costs for Granite Staters. Over the last year, the Senator played a key role in negotiating and working to pass the bipartisan infrastructure law, which is lowering costs for Granite Staters and fixing our aging infrastructure. The Senator also worked to develop the bipartisan competition and innovation bill to help our businesses outcompete countries like China, lower costs, and strengthen our national security.