NEW RESOURCE: Inflation Reduction Act Tax Credits and Rebates
Our office recently launched a new webpage to bring you up-to-date information on how the Inflation Reduction Act could help you save money on your taxes.
Congressman Kim was proud to help pass the Inflation Reduction Act into law to lower health and energy costs for Americans, finally allow Medicare to negotiate down the cost of prescription drugs, as well as cap out-of-pocket costs for Insulin at $35 per month for seniors on Medicare. In 2026, the provision Congressman Kim co-wrote will go into effect and cap out-of-pocket prescription drug costs for seniors on Medicare at $2,000 per year (averages $166 per month).
Additionally, the Inflation Reduction Act invests in American energy production, and does more to combat climate change than any bill in history. Through this, millions of New Jerseyans are already eligible for tax credits that will make it easier and more affordable for them to upgrade to more efficient appliances, purchase an electric vehicle, install residential clean energy systems, and save money on their energy bills. All the tax credits are available as of January 2023, but it may take 1-2 years for the New Jersey Board of Public Utilities to implement some of the rebate programs.
Learn more on our website here!
Commemorating National Black-Owned Business Month
A diverse and thriving small business community is the heart of our local economy. This month, we continue to celebrate and support minority owned businesses across New Jersey for all they contribute to our local communities.
We are committed to breaking down barriers and removing inequities that entrepreneurs face, hearing directly from business owners about how we can help and what they need, and helping deliver critical access to resources to help them grow and succeed.
Open: Congressional App Challenge for Middle and High Schoolers
Do you know a young, aspiring computer scientist? Registration for the 2023 Congressional App Challenge is open! The challenge is an incredible annual opportunity for local middle and high school students to show off their STEM skills.
Check out more information on our website!
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Thank you for giving us the opportunity to serve you every day!
Have a wonderful weekend,
The Office of Congressman Andy Kim
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