Rep. Sherrill, Payne Vote For Inflation Bill Alongside NJ Democrats – Patch

ESSEX COUNTY, NJ — U.S. Reps. Mikie Sherrill and Donald Payne Jr. were among the House members from New Jersey who voted for the federal Inflation Reduction Act on Friday.

Payne and Sherrill, both Democrats, represent several towns and cities in Essex County, in addition to other counties (see the list below). Payne is based in the 10th District, and Sherrill represents the 11th District.

The Inflation Reduction Act – a scaled-down version of what President Joe Biden’s administration originally proposed in the Build Back Better Act – would impact several areas, including education, labor, child care, health care, taxes, immigration and the environment. Read More: 5 Ways The Inflation Reduction Act Will Impact NJ

Experts and elected officials disagree about how much – and how soon – the climate, tax and health care bill would affect a decades-high inflation rate. The 755-page bill calls for $433 billion in new spending that Democrats say is more than offset by $739 billion in revenue, including:

$313 billion from a 15 percent corporate minimum tax
$288 billion from prescription drug pricing reform
$124 billion from IRS tax enforcement reform
$14 billion from the closure of the carried interest loophole

Every Democratic congress member in New Jersey voted for the bill, which previously passed a Senate vote and now heads to the desk of President Biden. Read More: Inflation Reduction Act: House Passes Historic Climate Spending Bill

Mimicking the party line, New Jersey’s two Republican House members voted against the bill: Rep. Chris Smith (District 4) and Rep. Jeff Van Drew (District 2).

Van Drew pointed to a provision that allocates $80 million to hire 87,000 new Internal Revenue Service agents as an example of wasteful spending.

“We are in the middle of a recession,” Van Drew said. “There is no reason that taxpayer dollars need to go towards hiring an IRS army that will only end up targeting hard-working Americans who are just trying to afford gas and groceries.”

But Sherrill and Payne – in addition to every other House Democrat from the Garden State – voted to pass the bill, with the congresswoman claiming it is a victory for people who can no longer tighten their belts in New Jersey.

“We all know how high the cost of living is in Northern New Jersey,” Sherrill said.

Sherrill and Rep. Josh Gottheimer (District 5) have pushed to remove or increase the $10,000 cap on state and local tax (SALT) deductions, a big issue among New Jersey homeowners – some of the most heavily taxed in the nation. Read More: See How Every NJ Town Ranks For Property Taxes In New List

Sherrill and Gottheimer previously pledged “no SALT, no deal,” when it comes to the Inflation Reduction Act, but have since expressed support for the bill – which doesn’t include SALT reform.

“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,” Sherrill said.

The congresswoman praised other sections of the bill, including:

“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.”

The recently redistricted 11th District includes the following municipalities: Belleville, Bloomfield, Cedar Grove, Fairfield, Glen Ridge, Livingston, Maplewood, Millburn, Montclair (part), North Caldwell, Nutley, Roseland, South Orange and West Caldwell in Essex County; Boonton, Boonton Township, Butler, Chatham, Chatham Township, Denville, Dover, East Hanover, Florham Park, Hanover, Harding, Jefferson, Kinnelon, Lincoln Park, Madison, Mendham Twp (part), Montville, Morris Plains, Morris Township, Morristown Town, Mountain Lakes, Parsippany-Troy Hills, Pequannock, Randolph, Riverdale, Rockaway, Rockaway Township and Victory Gardens in Morris County; Little Falls, Totowa, Wayne (part) and Woodland Park in Passaic County.

PAYNE: ‘NUMEROUS BENEFITS TO AMERICAN FAMILIES’

Rep. Payne said the bill will lower inflation, lower carbon emissions to fight climate change, and establish a minimum tax for billion-dollar corporations.

It also requires Medicare to negotiate the price of the 10 most expensive medications to reduce the cost for Americans and limits out-of-pocket costs for insulin to $35 to help Medicare beneficiaries with diabetics, he added – an issue close to his heart. Read More: Rep. Payne Of NJ Has Personal Link To Drug Costs Bill – Diabetes

“I am proud to vote for the Inflation Reduction Act because it 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 said.

However, the congressman added that he is “extremely disappointed” that the majority of Senate Republicans rejected a provision that would allow American diabetics with private insurance to benefit from a $35 cap on insulin payments. Read More: NJ Families Bash ‘Unethical’ Insulin Prices, Plead For $35 Cap

“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 and I voted for it because it will provide numerous benefits to American families and the economy,” Payne said.

The recently redistricted 10th District includes the following municipalities: Caldwell, East Orange, Essex Fells, Irvington, Montclair (part), Newark (part), Orange, Verona and West Orange in Essex County; Jersey City (part) in Hudson County; and Cranford, Garwood, Hillside, Kenilworth, Linden (part), Roselle, Roselle Park and Union Township in Union County.

This article contains reporting by Beth Dalbey and Josh Bakan, Patch staff