{"database": "press", "table": "releases", "rows": [["https://hudson.house.gov/press-releases/inflation-expansion-act-to-cost-north-carolina-jobs-medical-cures-increased-taxes", "'Inflation Expansion Act' to Cost North Carolina Jobs, Medical Cures, Increased Taxes", "2022-08-16", "2022", "2022-08", "Republican", "House", "NC", "Richard Hudson", "H001067", "hudson.house.gov", "hudson", "https://hudson.house.gov/media/press-releases", "scraper", "NCBIO: Part D drug price \u2018negotiation\u2019 comes at cost of jobs, investment, cures\n\nWRAL TechWire\n\nAugust 12, 2022\n\nRALEIGH \u2013 This past weekend, the U.S. Senate passed the Inflation Reduction Act. Included in the law is a provision that gives Medicare Part D the ability to \u201cnegotiate\u201d the price of medicines for the first time.\n\n...\n\nA new analysis of 110 currently approved therapies shows that only 6 of them would have made it to market if this new policy had been in effect during their development. Companies would not have had the necessary funds to invest in research and development. This legislation represents a $300 billion dollar blow to a sector that has saved millions of lives and is working tirelessly to end the global COVID-19 pandemic.\n\n...\n\nA recent analysis of the legislation passed by the Senate determined that it will likely lead to the loss of over 590,000 jobs across the country. In North Carolina, the toll would be a direct biopharma job loss of almost 6,600 jobs, along with nearly 37,000 jobs supported by the life sciences industry.\n\nThere is very little win in this bill for North Carolina. Government price setting destroys innovation and jobs by removing the incentive to invest in the industry and cures of tomorrow.\n\n...\n\nRead the article here.\n\nWorkers in These States Would Pay Most Under Biden\u2019s New Business Tax\n\nDaily Signal\n\nAugust 11, 2022\n\nTaxpayers across the income spectrum should expect they ultimately will pay for the left\u2019s deceptively named Inflation Reduction Act.\n\nBut the new taxes would fall more heavily across specific industries and parts of the country. The largest tax in the bill, the new \u201cbook minimum tax,\u201d accounts for $222 billion of the more than half a trillion dollars of expected new tax collections. The book minimum tax would hit manufacturing disproportionately.\n\n...\n\nDue to their states\u2019 large manufacturing bases, workers in Indiana, Wisconsin, Michigan, North Carolina, and Kentucky would endure the biggest economic hit from the new tax. Manufacturing accounts for about 26.6%, 18.9%, 18%, 17.1%, and 17.4% of the economies of these five states, respectively.\n\n...\n\nIndiana, Wisconsin, Michigan, North Carolina, and Kentucky combined have lost over 1 million manufacturing jobs since 2000. Largely because of deep losses of manufacturing jobs, total private sector employment in Indiana, Wisconsin, and Michigan fell 7.5% in this period.\n\nA new tax won\u2019t help America\u2019s manufacturing states.\n\n...\n\nRead the article here.", 1, "2026-03-30T01:40:41Z", "2026-04-08T02:59:24Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://hudson.house.gov/press-releases/inflation-expansion-act-to-cost-north-carolina-jobs-medical-cures-increased-taxes"], "units": {}, "query_ms": 0.77814981341362, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}