COLUMBUS, Ga. (WRBL) – As the country continues to battle inflation, Congress recently passed the Inflation Reduction Act, which Democrats claim will bring relief to American Families.
The bill includes health care, environmental, climate, energy, and taxes provisions.
News 3 interviewed Democratic National Committee Chairman Jaime Harrison, who explained how provisions within the bill would benefit families in Columbus.
Harrison says that one of the bill’s most significant impacts is limiting prescription medicine costs.
“Columbus and all of Georgia are similar to my home state of South Carolina, and one of the things that is gonna be a big plus for so many folks is gonna be the prescription drugs component of this bill,” said Harrison.
One of the healthcare provisions within the bill allows Medicare to negotiate for 10 high-costing drugs starting in 2026 and eventually increase to 20 drugs by 2029, something Harrison believes will significantly impact families in Columbus.
“So many folks like my grandmother are spending so much money on prescription drugs. It’s going to save a lot of people money, and it’s going to save lives,” said Harrison. “Instead of having to choose between getting your blood pressure medicine and keeping your lights on, you now will have more money in your pockets to do both.”
Another part of the bill, Harrison points out, will save millions of Americans on annual health insurance costs as well. Building on the Affordable Care Act (ACA), the bill enables financial aid to help people enrolled in ACA plans afford premiums for at least three years. It also expands eligibility to enable more middle-class individuals to receive financial help.
“This bill also locks in a lower healthcare insurance cost for so many people. On average, about $800 a year people will save,” said Harrison.
The Inflation Reduction Act also includes a provision allocating funding to the IRS. The bill provides the IRS with $80 billion, which is supposed to boost enforcement.
Harrison says that the average American and locals in Columbus should not be alarmed by the funding boost provided to the IRS. The bill, Democrats claim, will enable the IRS to examine individuals making over $400,000 annually extensively.
“We’re not taxing low-income people; we’re not taxing people making lower than $400,000 a year,” said Harrison. “The individuals and the corporations that get out of paying their taxes will be the people who finally pay their fair share, which is how we will pay for this bill.”