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Democrats Rein in Inflation

Floor Speech

Date: Sept. 15, 2022
Location: Washington, DC

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Ms. SCANLON. Mr. Speaker, for far too long, families in my district and across the country have struggled with rising healthcare and prescription drug costs. So, I am pleased to report that relief is on the way, thanks to Democrats' passage of the Inflation Reduction Act this summer.

This act reins in out-of-control healthcare costs and will make a real difference in family budgets by extending tax credits for health insurance, capping prescription drug costs for seniors at $2,000 a year, capping insulin costs for seniors at $35 a month, and allowing Medicare to negotiate lower prices with drug companies.

A family of four in Ridley Park could save more than $2,800 in annual health insurance premiums. A senior couple in Media could save more than $13,000 in yearly healthcare costs.

If the Inflation Reduction Act's $35 insulin copay had been in effect in 2020, a Springfield resident who uses NovoLog could have saved $1,300 a year.

Importantly, all these benefits are fully paid for by making the biggest corporations and billionaires pay their fair share.

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