Dear John,

BIG NEWS: Last week, President Biden signed into law the historic Inflation Reduction Act, legislation that will lower health insurance premiums, prescription drug costs, and energy bills — and make historic investments to clean up pollution and advance environmental justice!

Once again, I was the only Member of Congress from Alabama to vote in favor of this transformational bill. But as my dad always said, "it's okay to stand alone if you're standing up for what you believe."

President Biden signs the Inflation Reduction Act into law

The Inflation Reduction Act will not raise taxes on anyone making less than $400,000 per year. Instead, it is fully paid for by ensuring that billionaires and large corporations begin to pay their fair share in taxes. In fact, it would actually cut the deficit by hundreds of billions of dollars.

Here are just some of the major ways the Inflation Reduction Act cuts costs and fights climate change:

With the American Rescue Plan, Congressional Democrats made significant improvements to the Affordable Care Act (ACA) which allowed more Alabamians to afford health insurance. However, the ACA's enhanced tax credits would have expired at the end of 2022, stripping millions of Americans and many Alabamians of their health insurance.

By extending these subsidies, the Inflation Reduction Act locks in lower health care premiums for 209,000 Alabamians.

Seniors in Alabama are being crushed by the high cost of prescription drugs. I know seniors who are rationing their insulin just to afford the basics. In this nation of so much wealth and prosperity, this is unconscionable, and Democrats in Congress are finally putting an end to this madness.

Thanks to the Inflation Reduction Act, Medicare will be allowed to negotiate lower prescription drug prices for the first time in U.S. history.

The Inflation Reduction Act also caps out-of-pocket drug costs for seniors on Medicare, ensuring that no Medicare beneficiary will pay more than $2,000 per year for prescription drugs.

For Medicare beneficiaries with diabetes, the Inflation Reduction Act caps out-of-pocket insulin costs at $35 per month.

The Inflation Reduction Act represents one of the most significant investments by Congress to fight climate change, clean up pollution, and advance environmental justice. It will tackle the climate crisis and is projected to reduce greenhouse gas emissions by roughly 40 percent by 2030.

Thanks to a provision that I proudly cosponsored, the Inflation Reduction Act reinstates a fee on crude oil and petroleum products to ensure that Superfund sites like the one in North Birmingham have the resources they need to clean up our environment. The bill also includes my legislation, the Carbon Capture and Sequestration Expansion Act, to reduce pollution and promote carbon capture technology.

Lowering health care and drug costs, fighting inflation, tackling climate change, making wealthy corporations pay their fair share, cutting the deficit... This is what happens when PEOPLE win out over special interests.

The Inflation Reduction Act delivers for the American people and puts Alabama on a greener, healthier, and more prosperous path! I was so proud to cast my vote for this bill and can't wait to see all that it will do for Alabama's seniors and families.

In Congress, I will continue to put the needs of Alabama's 7th Congressional District first. Please be sure to check in regularly with our website and social media pages (Twitter, Facebook, and Instagram) for updates.

As always, take care.

I look forward to hearing from you,

Congresswoman Terri A. Sewell