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Golden will support the Inflation Reduction Act

Jared Golden
Robert F. Bukaty
/
AP
Rep. Jared Golden, D-Maine, visits Acadia National Park, Friday, June 18, 2021, in Winter Harbor, Maine.

Rep. Jared Golden of Maine's 2nd district says he will support the Inflation Reduction Act, the climate, energy and health care bill that's expected to pass the House Friday.

Golden was the sole Democrat to vote against the American Rescue Plan last year and he opposed a broader spending proposal known as Build Back Better.

But on Friday he announced his support for the Inflation Reduction Act, a sweeping proposal that he says will lower energy and health care costs and reduce the federal deficit.

The bill spends roughly $430 billion on climate, energy and health care initiatives while raising roughly $737 billion in revenue via a 15% corporate minimum tax and anticipated savings from prescription drug pricing overhauls and tax enforcement.

In doing so, Golden will join 1st District Rep. Chellie Pingree and other congressional Democrats who are championing the bill as the first major legislation to address climate change. It offers incentives to Americans to buy energy efficient heat pumps and appliances, electric vehicles and promote manufacturing of wind and solar energy.

The proposal also caps out-of-pocket drug costs for seniors and allows Medicare to negotiate drug prices.