A few weeks ago, my Democratic colleagues and I unanimously passed the historic Inflation Reduction Act to lower families’ health care, prescription drug and energy costs. It is the the largest investment in climate action in American history and will take steps to dramatically reduce the deficit.
And make no mistake: We would not be here today without the work of advocates, organizations, and my Progressive Caucus colleagues and I — who fought tooth-and-nail to advance progressive priorities and the full scope of the President’s economic agenda in this legislation.
The Inflation Reduction Act includes three climate action bills that I championed to enable working families to participate in the clean energy economy through tax credits for making their homes more energy efficient, cutting down on consumer energy bills, and purchasing used clean vehicles.
For the first time, consumers will be able to claim a $4,000 tax rebate for used electric and hybrid vehicles, putting these cars into reach for more people. Older Americans on Medicare will see their out-of-pocket expenses capped at $2,000 a year, insulin costs capped at $35 a month and lower prescription drug prices. This bill also extends enhanced ACA subsidies for three years, meaning 1.5 million Californians will continue to save $1,100 a year in health insurance premiums on Covered California. (Source: Covered California)
This legislation honors our promise to deliver for working families. For more information on these legislative accomplishments, please visit my website here.
If you have any questions, please contact my Los Angeles office at (213) 481-1425.