Communities, working families, and seniors are already benefiting from the law, which was opposed by Wisconsin’s Republican Congressional delegation
Wednesday, August 16, 2023
MADISON, Wis. – On the first anniversary of the Inflation Reduction Act, Wisconsinites are already benefiting from new investments in communities and seeing lower health care premiums and prescription drug costs. Despite the law’s success, Wisconsin’s Republican congressional delegation continues to oppose the law and have stood by as the pharmaceutical industry tries to dismantle its most important provisions.
Here are some of the ways the Inflation Reduction Act is already succeeding in Wisconsin:
Lower Health Care and Prescription Drug Costs: The Inflation Reduction Act is delivering lower prescription drug prices and health insurance premiums for thousands of Wisconsin families. Many Wisconsinites will save an average of $475 on the life-saving medication that they need thanks to the IRA’s cap on annual out-of-pocket prescription drug costs. Thanks to the new cap on insulin prices for Medicare recipients, recent data shows more Wisconsinites are already filling prescriptions as medication becomes more affordable.
New Good-Paying Jobs for Wisconsin: The Inflation Reduction Act’s investments in clean energy are also supporting new manufacturing and other jobs across Wisconsin, with recent announcements already showing the state’s potential to manufacture clean energy infrastructure. Reports show at least 500 new jobs have already been created in Wisconsin during the first year that the law has been in effect. The Inflation Reduction Act’s historic tax credits will ensure these products are made in the United States and support good-paying jobs here in Wisconsin.
Fighting Rising Costs: Thanks to the Inflation Reduction Act and President Biden’s economic agenda, inflation is lower than it was a year ago, providing relief to families as they continue to deal with rising costs.
While Wisconsinites are clearly benefiting from the Inflation Reduction Act and recent polling shows the law is overwhelmingly popular nationally, Republicans in Congress continue to threaten its success. Wisconsin’s Republican congressional delegation—including Reps. Bryan Steil, Derrick Van Orden, and Tom Tiffany—all oppose the law and have failed to condemn attempts by the pharmaceutical industry to roll back its improvements to Medicare coverage. The delegation also voted for the “Default on America Act” earlier this year which would’ve repealed additional portions of the Inflation Reduction Act to crack down on wealthy tax cheats who don’t pay their fair share in taxes.
Opportunity Wisconsin Program Director Meghan Roh: “Thanks to President Biden and Democrats in Congress, the Inflation Reduction Act is already delivering relief to Wisconsin families. Today, thousands of Wisconsinites are paying less for prescription drugs and health care premiums, and investments from the program are creating jobs and supporting new industries here in Wisconsin. It’s time for Republicans in Congress to stop trying to tear down the progress we’ve made and support policies like the Inflation Reduction Act that deliver for our state.”
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