Dear Neighbors,

I hope this message finds you safe and well. As always, if you have questions or concerns, please contact my office by calling (847) 413-1959, emailing me at [email protected], or sending a message through my website at https://krishnamoorthi.house.gov/contact/email. For more frequent updates, I encourage you to follow me on Twitter, Facebook, and Instagram.

Last month, I shared with you why it was so important that my congressional delegation made its diplomatic visit to Taiwan, despite threats from the Chinese Communist Party. With the continuing rise of autocracy in different parts of the globe, including in Beijing and Moscow, it is more important than ever to reaffirm our commitment to stand up against these brutal regimes and stand behind our democratic allies and partners like Taiwan and Ukraine.

Please join me for a town hall discussion on Tuesday, September 6^th at Palatine High School in Palatine, IL as we continue this conversation on how best to stand up to our foreign adversaries and defend global democracy. The event will begin at 6:45 PM CT. I always appreciate hearing from my neighbors and would be happy to answer some of your questions on these threats. You can RSVP here.

As the Chairman of the House Oversight Subcommittee on Economic and Consumer Policy, I have the responsibility to protect American consumers and hold major corporations and businesses accountable. On Tuesday, I sent investigatory inquires to four federal agencies – the U.S. Department of the Treasury, Securities and Exchange Commission, Commodity Futures Trading Commission, and Federal Trade Commission – inquiring about how they are combating cryptocurrency-related fraud and scams, and what else is needed to make sure these crimes are punished, and Americans are kept safe. I also sent information requests to the five digital asset exchanges: Binance.U.S., Coinbase, FTX, Kraken, and KuCoin.

With cryptocurrency still a relatively new and unregulated digital asset, and with more Americans investing in crypto exchanges and companies these days, there are significant risks to consumers despite the steps already taken by the private sector to prevent fraud from occurring. Many scams are emerging, and Americans are suffering the consequences. At the current pace, cryptocurrency investors, big and small, are set to lose over $1 billion due to fraud in the coming years. Due to the lack of protections, including insurance companies being hesitant to insure strictly digital assets, it is imperative all information from relevant government agencies and private companies be provided to the committee as to how best to end cryptocurrency frauds and scams in the future. You can read more about the investigation here and read the letters my committee sent to each agency and company here.

On Monday, it was a privilege to host a town hall discussion on the importance of protecting and strengthening Social Security and Medicare with Des Plaines Mayor Andrew Goczkowski and Max Richtman, President and CEO of the National Committee to Preserve Social Security and Medicare (NCPSSM). While the Social Security and Medicare programs have been around since the Roosevelt and Johnson Administrations, their longevity does not guarantee their existence so we must fight to preserve them.

Last month, I helped pass the Inflation Reduction Act (IRA) which included a range of provisions to strengthen Medicare and help our seniors. One of the most notable came through reforming Medicare Part D to cap Medicare beneficiaries’ annual out-of-pocket costs for prescription drugs at $2,000. The IRA also capped the cost of insulin for Medicare beneficiaries at $35 per month starting in 2023. These are the types of investments we as a nation should be making in our seniors, and I look forward to these provisions going into full effect.

Social Security is also fundamental to the wellbeing of current and future American retirees, and we must do everything we can to strengthen and sustain it, which is why I am a proud co-sponsor of the Social Security 2100 Act. This legislation will ensure the benefits we all earn keep pace with inflation and every dollar of what is owed to us is paid when it comes time to retire. I am immensely proud to have a 100 percent score from the National Committee to Preserve Social Security and Medicare and I look forward to doing more in the future to continue to justify that honor. Finally, I want to thank everyone again who came out and asked questions and engaged with me during our town hall. These issues are deeply personal to all of us, and conservations like the one held on Monday night are fundamental to moving our country forward.

The best way to stay up to date on these issues beyond our newsletter is through my social media accounts, which I update multiple times each day. You can follow my Twitter here, my Facebook page here, and my Instagram here. Thank you for staying engaged in our community.