On The Second Anniversary Of The Inflation Reduction Act, A Reminder That Hung Cao Opposes Lowering Costs For Virginians And Creating Good-Paying Jobs

From the Democratic Party of Virginia (DPVA):

On The Second Anniversary Of The Inflation Reduction Act, A Reminder That Hung Cao Opposes Lowering Costs For Virginians And Creating Good-Paying Jobs 

Richmond, VA – As we celebrate the second anniversary of the Inflation Reduction Act being signed into law, it is a stark reminder that Hung Cao would’ve voted against it.

In an interview with WJLA, Cao flat out said, “I would never vote for that Inflation Reduction Act.” On Twitter, he even called it the “Inflation Deduction Act.”

The IRA is one of the largest investments in the American economy, energy security, and climate that Congress has made in the country’s history. For the first time, the IRA allows Medicare to negotiate prescription drug prices, caps out of pocket costs to $2,000, and lowers ACA healthcare premiums for millions of Americans. And as a result of this historic legislation, the cost of insulin is capped at $35 a month for this life-saving medication.

Because of the IRA, businesses are making historic investments in the jobs of the future in Virginia. Last month, LS Greenlink announced they were investing $681 million in Chesapeake to manufacture high-voltage subsea cables used for offshore windfarms, which is expected to create over 330 jobs. Because of the IRA, Volvo’s New River Valley truck manufacturing facility will be awarded over $208 million from the Department of Energy and sustain 7,900 union jobs and create 295 new jobs in Virginia, Maryland, and Pennsylvania. Because of the IRA, Topsoe, a new manufacturing facility, will be coming to Chesterfield County, and bringing more than $400 million in investments, creating at least 150 new jobs, and supporting over 1,000 indirect domestic jobs. New jobs are coming to Virginia because of the IRA – and Hung Cao would have opposed every single one.

“Today’s anniversary is a reminder that Senator Kaine voted for historic legislation that took on Big Pharma to lower the cost of insulin for Virginia families to $35 a month and supported creating good-paying jobs of the future that will help us compete with China,” said DPVA Chairwoman Susan Swecker. “On the other hand, Hung Cao has drunk the MAGA Kool-Aid and has come out on-the-record against the Inflation Reduction Act, which means he is against creating jobs and wants people to pay more for their insulin. All I can say to him is, good luck with that.”