WASHINGTON — TheDemocratic appropriations bill passed by Congressincludes a range of consumer benefits, including clean energy home products, electric vehicle tax credits, and savings. Benefits included. About prescription drugs and health insurance premiums.
The Curb Inflation Act passed the Senate in an intraparty vote on Sunday and is expected to be voted on by the House of Representatives on Friday, after which it will be sent to President Joe Biden's desk.
"Yes, we hope to pass it Friday," House Speaker Nancy Pelosi, a California Democrat, told her NBC News on Tuesday.
Republicans, who were unanimous in their opposition to the bill, described it as "reckless taxation and spending" and would not solve inflation. accuses it of potentially harming innovation in medicine.
The legislation includes spending more than $400 billion on energy and health care programs, saving More than $700 billion in revenue from tax increases on businesses.
Unlike his Covid relief package in recent years, there will be no direct payments or checks mailed to a wide range of people. But what about ordinary Americans? Here is a summary.
Medicare Copayment Cap, Free Vaccines
For the first time, a Medicare beneficiary's annual copayment for medications will be capped at $2,000 for him from the start. There is currently no upper limit. Medicare seniors also have the option to spread the costs across monthly payments.
According to a study by the nonpartisan Kaiser Family Foundation, in 2016 the average Medicare beneficiary spent her $5,460 on out-of-pocket expenses, including deductibles and co-payments. I was.
Additionally, the bill would provide free recommended vaccines, including vaccines for the novel coronavirus and shingles.
Clean Car Credit
I want to buy an electric car. The bill would provide credits of up to $7,500 for qualifying "clean" vehicles, including popular models from General Motors, Tesla and others.
Credits will be reduced for vehicles that do not meet all requirements for power and minerals or battery parts, according to details provided by the Senate Finance Committee to his NBC News.
This applies to new vehicles up to $55,000. $80,000 for SUVs and vans. Also, to be eligible, your income must be less than $150,000 ($300,000 for joint filers). There is a
problem. Profits are reduced or eliminated unless the vehicle is sold by a "qualified manufacturer" and final assembly is done in North America to facilitate domestic production.
Bipartisan's analysis found that a previously owned electric vehicle that is at least two years old and sells for $25,000 or less has up to $4,000 in credits and a Up to $75,000 is allowed. Policy Center.
Energy Efficient Home Credits
The bill includes a range of benefits to encourage the use of clean energy products in homes over the next decade. It contains.
This will increase the credit for installing certified products such asEnergy Star products in non-commercial facilities from 10% to 30%. According to the Senate Finance Committee, this includes "solar power, solar water heaters, fuel cells, small wind energy and geothermal heat pumps."
This legislation replaces lifetime credit caps with a $1,200 annual credit cap, providing $600 for energy efficient windows and $500 for doors. For biomass stoves and heat pumps, this jumps to $2,000. It also expands existing credits to cover home energy audits (to $150) and electrical panel upgrades (to $600).
Medicare monthly insulin cap is $35
A cap of $35 will be imposed.
Last month'sHealth Problems Surveyfound that 41% of those who use insulin have Medicare coverage. Overall, 14% of people using insulin say they spend "disastrous" levels of money on insulin. That's over 40% of her remaining income after food and housing.
Democrats also sought to cap insulin costs in the private market at $35, butRepublicans opposedand passed the bill under strict Senate budget rules. I did. Subsequent attempts to add it failed.
Funding for Affordable Care Act
This is to prevent a sharp increase in health insurance premiums under the Plan for the Affordable Medical Expenses Act. ACA passed under the American Rescue Plan for an additional three years through the end of 2025. That means an American with an income above his 400% of the federal poverty level will still have access to additional assistance, with premiums on the "benchmark" plan limited to his 8.5% of household income. .
This means there will be no major shock this fall for the millions who were expected to face premium hikes as a result of their money drying up, and many Democrats may be nervous about going to. In the November 8th midterm elections.
