Big Money’s war on the Build Back Better plan

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As the largest grassroots member organization in the country, with over one million members in 32 states, we see a future with room for all, where each of us can thrive. But none of this will happen if we don’t make the long-delayed investments our communities need. The Build Back Better plan is a down payment for our brighter future.

In our new report, Behind the Curtain: The Corporate Plot to Overthrow Democracy, we focus on who is spending big to stop key elements of the Biden plan: including fairer taxes, drug prices, health care, housing and immigration, as well as large investments in green jobs and our environment.

We name the wrong actors and show how they undermine our democracy and our economy. Across the country, our members are taking this message to business doors to tell them that we have had enough.

Twenty companies and their associations – led by the US Chamber of Commerce, Blue Cross Blue Shield, and the National Association of Realtors – have spent more than $ 201 million on lobbying so far this year.

The pharmaceutical and healthcare industries alone – which oppose the Biden administration’s efforts to cut drug prices and expand health coverage – spent $ 171 million in 2021 on lobbying, more than anything else. other industry. They employ 1,500 lobbyists in Washington, three for each member of Congress.

Meanwhile, Americans pay the highest prices in the world for prescription drugs and health care. This is not true!

Much attention has been paid to the cost of the Build Back Better plan: $ 3.5 trillion over 10 years. But this is not deficit spending – it is funded by the cancellation of tax cuts for the very rich. And experts agree that the package will pay for itself.

This will stimulate economic activity, unlike Donald Trump’s tax cuts in 2017, which add $ 2.3 trillion to the national debt. Thanks to Trump’s giveaways, 82 ultra-rich families were able to avoid paying more than $ 1 billion in taxes, and many large corporations pay no taxes.

The Build Back Better plan will cancel Trump’s giveaways to raise funds for expanded health benefits and a permanent children’s tax credit. More savings are being made by allowing Medicare and the Department of Health and Human Services to negotiate drug prices, which will save $ 450 billion and reduce brand name drug prices by 55%.

The United States is more unequal than ever. If we are to heal the wounds of our economy and our society, we need Congress and the President to deliver what people want and need: aid and investment so that we can survive and prosper. This is exactly what the Biden Build Back Better plan does.

Our economy, our democracy and our lives are all at stake. Make no mistake, the time has come. It is business versus people in this rebuilding battle, and it is time for people to win.

This editorial was distributed by OtherWords.org

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