BY THE NUMBERS: The Inflation Reduction Act

[Yo_Mama_Been_Loggin]

The Inflation Reduction Act will lower costs for families, combat the climate crisis, reduce the deficit, and finally ask the largest corporations to pay their fair share. President Biden and Congressional Democrats have worked together to deliver a historic legislative achievement that defeats special interests, delivers for American families, and grows the economy from the bottom up and middle out.

Here’s how the Inflation Reduction Act impacts Americans by the numbers:

HEALTH CARE

Cutting Prescription Drug Cost

Today, Americans pay two to three times what citizens of other countries pay for prescription drugs
5-7 million Medicare beneficiaries could see their prescription drug costs go down because of the provision allowing Medicare to negotiate prescription drug costs.

50 million Americans with Medicare Part D will have the peace of mind knowing their costs at the pharmacy are capped at $2,000 per year, directly benefiting about 1.4 million beneficiaries each year.

-more-

https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/15/by-the-numbers-the-inflation-reduction-act/

[Hermit-The-Prog]

1. Tell it! ...

(Go to original for embedded links)

Lowering Health Care Costs

13 million Americans will continue to save an average of $800 per year on health insurance premiums
3 million more Americans will have health insurance than without the law.
The uninsured rate is at an all-time low of 8%, which the historic law will build on.

Defeating Special Interests

$187 million: The amount the Pharmaceutical industry has spent on lobbying in 2022.
1,600: number of lobbyists the pharmaceutical companies had in 2021 – three times the number of Members of Congress
33 years: the amount of time Congressional Democrats have been trying to lower prescription drug costs by allowing Medicare to negotiate drug prices.
19 years: number of years Medicare has been blocked from negotiating prescription drug costs
[ ... ]

[Johnny2X2X]

2. Tins of great tax credits in this

Be sure to look them up. $1600 tax credit for insulating your home. Credits for new windows and efficient appliances. All sorts of things that will save you money in the long run anyways, but now with the tax credit become no brainers.

[MichMan]

3. What is preventing the drug companies to raise the prices on everyone not on Medicare?

To make up for the difference? Or for that matter, to increase the prices, so they have room to negotiate them down.