October 10, 2022

Legislative Accomplishments During the 117th Congress that Benefit Older Americans

Lowering Medicare Prescription Drug Prices, Investing in Clean Energy and Reducing Inflation:


On August 16, 2022, President Biden signed the Inflation Reduction Act into law. Monumental in nature and of tremendous consequence for older Americans, the Inflation Reduction Act will reduce health care costs, reduce greenhouse gas emissions, raise taxes on corporations and wealthy investors so they pay their fair share, and extend health-insurance subsidies. This groundbreaking law helps older Americans pay for the prescription drugs they need to stay healthy. The law:

● allows, for the first time, the government to negotiate prescription drug prices for seniors on Medicare;

● caps annual prescription drug expenditures for seniors on Medicare at $2,000;

● caps insulin prices for Medicare beneficiaries at $35 per month;

● provides free vaccines for Medicare Part D beneficiaries;

● begins to rein in the monopoly power pharmaceutical corporations have over prescription drug prices that pharmaceutical companies charge for prescription drugs by requiring the companies to issue rebates if they try to raise the price of a prescription drug for Medicare beneficiaries at a rate higher than inflation.

Without a single Republican Vote

The American Rescue Plan:

President Biden signed the American Rescue Plan into law on March 11, 2021. By injecting $1.9 trillion in emergency spending into the economy, it bolstered the nation’s recovery from the disastrous economic and health effects of the COVID-19 pandemic and the economic recession. Most important for retirees, it:

· stabilized the multiemployer pension program, providing over 10 million Americans with the economic security they were on the verge of losing due to the many pension plans nearing default;

· provided a $1,400 stimulus check to most Americans, including seniors;

· provided funding for nutrition, vaccines, personal protective equipment and other life saving health care measures.

Without a single Republican Vote

Caring for America’s Veterans:

On August 10, President Biden signed the PACT Act to expand health care for our veterans and increase VA benefits for veterans exposed to burn pits and other toxic substances. Helping to provide generations of veterans and their survivors with the care and benefits they have earned, the law will create a new program to treat veterans who may have been exposed to toxic substances from burning trash pits on U.S. military bases.The PACT Act will:

· expand medical care eligibility to an estimated 3.5 million veterans, the biggest expansion of veterans’ benefits since the Agent Orange Act of 1991;

· provide guaranteed funding for treating veterans exposed to toxins by setting up a locked-in, dedicated fund that would not be subject to the congressional annual appropriations process.

With Bi Partisan Support

Written by
Topics: Announcements

Leave a Reply

Your email address will not be published. Required fields are marked *