ICYMI: Historic Inflation Reduction Act Provision to Stop Drug Company Price Hikes Takes Effect

As of October 1, drug companies will now be charged a penalty when they raise drug prices faster than the rate of inflation

Friday, October 7, 2022

MADISON, Wis.—According to Forbes and Protect Our Care, this week the first health care provision in the Inflation Reduction Act took effect, an important step to deliver lower costs to Wisconsin workers and families. As of October 1, 2022, drug companies will now be charged a penalty when they raise drug prices faster than the rate of inflation. In recent years, Wisconsinites have been paying three times more than people in other countries for the same prescription drugs. Just last week, the Department of Health and Human Services found that drug companies hiked prices more than the rate of inflation on over 1,200 medications.

Meghan Roh, Opportunity Wisconsin Program Director:
“Thanks to our elected leaders like President Biden and Senator Baldwin, this week prescription drug prices will come down and patients will be able to breathe a little easier. And despite efforts from folks like Senator Ron Johnson, the historic Inflation Reduction Act is set to make health care more affordable, accessible, and equitable for Wisconsin workers and families.”

Read more from the Wisconsin Examiner

Under The Inflation Reduction Act:

• 29,610 Medicare Part D enrollees in Wisconsin who experienced out-of-pocket costs over $2,000 in 2021 will now have their prescription drugs capped at $2,000 per year.

• Wisconsinites on Medicare will be protected from Big Pharma’s arbitrary price hikes that raise drug prices faster than inflation.

• 80 prescription drugs will have Medicare price negotiation by 2030.

• 58,965 Wisconsinites on Medicare will have insulin copays capped at $35 per month.

• 187,555 Wisconsinites will save on monthly health insurance premiums.

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A Reason to Celebrate: Inflation Reduction Act is a Win for Wisconsin Workers and Families

Historic law will lower costs for Wisconsin's working families, no thanks to Wisconsin Republicans

Tuesday, September 13, 2022

MADISON, Wis.—Today Americans from all walks of life, including many from the Badger State, will gather at the White House to celebrate the Inflation Reduction Act of 2022, a historic bill that will make meaningful reforms to lower costs for working families - bringing down prescription drug prices by giving Medicare the power to negotiate with drug companies, lowering insurance premiums, and reducing utility bills. Every Republican in Wisconsin’s Congressional delegation, including Senator Ron Johnson, sided with special interests and voted against this critical bill.  

Meghan Roh, Opportunity Wisconsin Program Director: 
“It’s hard to overstate just how much the Inflation Reduction Act will do to bring down costs for Badger State residents. Whether it’s lowering health care and energy costs, while also lowering the deficit, or making corporations pay their fair share in taxes–this historic law will go a long way to give Wisconsin workers and families the relief they need. We’re incredibly grateful to our elected leaders like President Biden, Senator Baldwin and Representatives Kind, Moore, and Pocan who have heard our voices and supported the Inflation Reduction Act. 

“Unfortunately, the only voices Wisconsin Republicans seem to listen to are those of the wealthy and well-connected. Wisconsinites are struggling to make ends meet and instead of voting for a bill to bring down costs, Senator Johnson continues to prioritize himself and those like him. As someone who loves to talk about rising costs and inflation, Senator Johnson’s ‘no’ vote on the Inflation Reduction Act shows us that his words are nothing but empty rhetoric. It’s time for Senator Johnson to stop putting politics over the people of Wisconsin.”     

Here’s how the Inflation Reduction Act will help Wisconsin workers and families, according to recent analysis: 

Lower Health Care and Prescription Drug Costs

• The Inflation Reduction Act will extend subsidies that help make Affordable Care Act coverage more affordable. Those subsidies—enacted under President Biden’s American Rescue Plan in 2021—were set to expire at the end of this year, but the Inflation Reduction Act extends them through 2025.

• If you’re one of the roughly 43,000 Wisconsinites projected to lose ACA marketplace coverage if these subsidies had expired, the Inflation Reduction Act means you get to keep your insurance.

• The Inflation Reduction Act will save an average middle class family of four in Wisconsin $6,259 on their yearly premiums.

• The Inflation Reduction Act also reforms Medicare to lower drug costs for many of the more than 935,000 Wisconsin seniors with Medicare Part D coverage, which covers prescription drugs. Because of this law, over 29,000 Medicare Part D enrollees in Wisconsin will not pay more than $2,000 per year on prescription drug costs and nearly 59,000 Wisconsinites on Medicare will have insulin copays capped at $35 per month.

Fighting Climate Change and Saving Wisconsin Families Money on Energy

• The Inflation Reduction Act represents the largest-ever national investment in fighting climate change and would accelerate private companies’ transition to clean energy technologies, expand domestic manufacturing of clean energy products, and boost American energy independence to make the country less reliant on foreign oil—all while making renewable energy products a financial winner for Wisconsin consumers.

• The law delivers $80 billion in financial rebates for households to adopt clean energy products, such as EVs, solar panels, and more efficient heat pumps, including up to:

  • $8,000 for a heat pump for space heating

  • $4,000 for an upgraded breaker box

  • $2,500 for upgraded electric wiring

  • $1,750 for a heat pump water heater

  • $1,600 for insulation, air sealing, and ventilation

  • $840 for an electric stove, cooktop range, or oven

  • $840 for an electric clothes dryer

Raising Taxes on Corporations and Reducing the Deficit

• The Inflation Reduction Act does not raise taxes on small businesses or Americans earning under $400,000 a year. In fact, it funds its health care and climate measures primarily by making large corporations pay their fair share.

• The law also implements a 1% tax on stock buybacks, which is what happens when companies purchase shares of their own stocks—moves that often enrich already wealthy shareholders by driving up the value of the stock.

• The law accomplishes all this while reducing the federal deficit by $300 billion.

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[ICYMI] Milwaukee Journal Sentinel: Ron Johnson Says Social Security ‘Was Set Up Improperly’

Friday, August 19, 2022

MILWAUKEE, Wis.—According to the Milwaukee Journal Sentinel on Friday, Senator Ron Johnson “is doubling down” in his criticisms of Social Security, saying that the essential program for Wisconsin seniors “was set up improperly” and that Wisconsin seniors’ retirements should have been subject to the whims of the stock market. 

Miranda Stark, Opportunity Wisconsin Deputy Program Director:

“Senator Johnson must stop his attacks against Social Security, saying that the program should be handed off to his rich Wall Street friends instead of guaranteeing a secure retirement for Wisconsin seniors. It’s unconscionable that Senator Johnson would say this bedrock retirement safety net ‘was set up improperly’ and that Wisconsinites who work their whole lives paying into Social Security should lose that guarantee and have it subject to the whims of wealthy Wall Street and big corporate investors. Coming on the heels of his statements that Social Security should be subjected to the whims of the congressional budgeting process, it’s clear that he does not have the program’s — or Wisconsin seniors’ — best interests at heart. We need Senator Johnson to stop playing politics with Social Security.”

Sen. Ron Johnson says Social Security 'was set up improperly' and would have been better invested in the stock market

Weeks after saying Social Security and Medicare should be subjected to annual budget talks — a stance that caused political blow back from his foes — Johnson once again weighed into America's signature social insurance program.

During a Wednesday campaign stop in Rice Lake, Johnson said Social Security "was set up improperly" and that the system's funds would have been better off invested in the stock market.

…

Critics have claimed investing in stocks would raise uncertainty given the inevitable dips in the market, plus they contend the government might wield too much influence overseeing such a large amount of money invested in stocks.

Read more from the Milwaukee Journal Sentinel.

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Inflation Reduction Act is a Win for Wisconsin Workers and Families

Biden signs bill into law, lowering costs for Wisconsin's working families, no thanks to Wisconsin Republicans

Tuesday, August 16, 2022

MADISON, Wis.—Today President Joe Biden signed the Inflation Reduction Act of 2022 into law, a historic bill that will make meaningful reforms to lower costs for working families - bringing down prescription drug prices by giving Medicare the power to negotiate with drug companies, lowering insurance premiums, and reducing utility bills. Every Republican in Wisconsin’s Congressional delegation, including Senator Ron Johnson, sided with special interests and voted against this critical bill.

Meghan Roh, Opportunity Wisconsin Program Director:
“It’s hard to overstate just how much the Inflation Reduction Act will do to bring down costs for Badger State residents. Whether it’s lowering health care and energy costs, while also lowering the deficit, or making corporations pay their fair share in taxes–this historic law will go a long way to give Wisconsin workers and families the relief they need. We’re incredibly grateful to our elected leaders like President Biden, Senator Baldwin and Representatives Kind, Moore, and Pocan who have heard our voices and supported the Inflation Reduction Act.

“Unfortunately, the only voices Wisconsin Republicans seem to listen to are those of the wealthy and well-connected. Wisconsinites are struggling to make ends meet and instead of voting for a bill to bring down costs, Senator Johnson continues to prioritize himself and those like him. As someone who loves to talk about rising costs and inflation, Senator Johnson’s ‘no’ vote on the Inflation Reduction Act shows us that his words are nothing but empty rhetoric. It’s time for Senator Johnson to stop putting politics over the people of Wisconsin.”

Here’s how the Inflation Reduction Act will help Wisconsin workers and families, according to recent analysis:

Lower Health Care and Prescription Drug Costs

• The Inflation Reduction Act will extend subsidies that help make Affordable Care Act coverage more affordable. Those subsidies—enacted under President Biden’s American Rescue Plan in 2021—were set to expire at the end of this year, but the Inflation Reduction Act extends them through 2025.

• If you’re one of the roughly 43,000 Wisconsinites projected to lose ACA marketplace coverage if these subsidies had expired, the Inflation Reduction Act means you get to keep your insurance.

• The Inflation Reduction Act will save an average middle class family of four in Wisconsin $6,259 on their yearly premiums.

• The Inflation Reduction Act also reforms Medicare to lower drug costs for many of the more than 935,000 Wisconsin seniors with Medicare Part D coverage, which covers prescription drugs. Because of this law, over 29,000 Medicare Part D enrollees in Wisconsin will not pay more than $2,000 per year on prescription drug costs and nearly 59,000 Wisconsinites on Medicare will have insulin copays capped at $35 per month.

Fighting Climate Change and Saving Wisconsin Families Money on Energy

• The Inflation Reduction Act represents the largest-ever national investment in fighting climate change and would accelerate private companies’ transition to clean energy technologies, expand domestic manufacturing of clean energy products, and boost American energy independence to make the country less reliant on foreign oil—all while making renewable energy products a financial winner for Wisconsin consumers.

• The law delivers $80 billion in financial rebates for households to adopt clean energy products, such as EVs, solar panels, and more efficient heat pumps, including up to:

  • $8,000 for a heat pump for space heating

  • $4,000 for an upgraded breaker box

  • $2,500 for upgraded electric wiring

  • $1,750 for a heat pump water heater

  • $1,600 for insulation, air sealing, and ventilation

  • $840 for an electric stove, cooktop range, or oven

  • $840 for an electric clothes dryer

Raising Taxes on Corporations and Reducing the Deficit

• The Inflation Reduction Act does not raise taxes on small businesses or Americans earning under $400,000 a year. In fact, it funds its health care and climate measures primarily by making large corporations pay their fair share.

• The law also implements a 1% tax on stock buybacks, which is what happens when companies purchase shares of their own stocks—moves that often enrich already wealthy shareholders by driving up the value of the stock.

• The law accomplishes all this while reducing the federal deficit by $300 billion.

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Historic Inflation Reduction Act Clears House Vote

Bill lowers costs for Wisconsin's working families, no thanks to Wisconsin Republicans

Friday, August 12, 2022

MADISON, Wis.—Today the U.S. House of Representatives passed the Inflation Reduction Act of 2022, a historic bill that will make meaningful reforms to lower costs for working families - bringing down prescription drug prices by giving Medicare the power to negotiate with drug companies, lowering insurance premiums, and reducing utility bills. It now heads to President Biden’s desk for signature. Every Republican in Wisconsin’s Congressional delegation, including Senator Ron Johnson, sided with special interests and voted against this critical bill.

Meghan Roh, Opportunity Wisconsin Program Director:
“It’s hard to overstate just how much the Inflation Reduction Act will do to bring down costs for Badger State residents. Whether it’s lowering health care and energy costs, while also lowering the deficit, or making corporations pay their fair share in taxes–this historic bill will go a long way to give Wisconsin workers and families the relief they need. We’re incredibly grateful to our elected leaders like Senator Baldwin and Representatives Kind, Moore, and Pocan who have heard our voices and supported the Inflation Reduction Act.

“Unfortunately, the only voices Wisconsin Republicans seem to listen to are those of the wealthy and well-connected. Wisconsinites are struggling to make ends meet and instead of voting for a bill to bring down costs, Senator Johnson continues to prioritize himself and those like him. As someone who loves to talk about rising costs and inflation, Senator Johnson’s ‘no’ vote on the Inflation Reduction Act shows us that his words are nothing but empty rhetoric. It’s time for Senator Johnson to stop putting politics over the people of Wisconsin.”

Here’s how the Inflation Reduction Act will help Wisconsin workers and families, according to recent analysis:

Lower Healthcare and Prescription Drug Costs

• The Inflation Reduction Act will extend subsidies that help make the Affordable Care Act more affordable. Those subsidies—enacted under President Biden’s American Rescue Plan in 2021—are set to expire at the end of this year, but the Inflation Reduction Act extends them through 2025.

• If you’re one of the roughly 43,000 Wisconsinites who has been able to afford health insurance from the ACA marketplace thanks to these subsidies, the Inflation Reduction Act means you get to keep your insurance. Without the extension of the subsidies, you’d be at risk of losing that coverage in 2023.

• The extension of the subsidies also means that about 10 million Americans—including an estimated 150,000 Wisconsin residents—who’ve had access to more affordable ACA insurance plans won’t have to suddenly pay more in 2023.

• The Inflation Reduction Act also reforms Medicare to lower drug costs for many of the more than 935,000 Wisconsin seniors with Medicare Part D coverage, which covers prescription drugs.

Fighting Climate Change and Saving Wisconsin Families Money on Energy

• The Inflation Reduction Act represents the largest-ever national investment in fighting climate change and would accelerate private companies’ transition to clean energy technologies, expand domestic manufacturing of clean energy products, and boost American energy independence to make the country less reliant on foreign oil—all while making renewable energy products a financial winner for Wisconsin consumers.

• The law delivers $80 billion in financial rebates for households to adopt clean energy products, such as EVs, solar panels, and more efficient heat pumps, including up to:

  • $8,000 for a heat pump for space heating

  • $4,000 for an upgraded breaker box

  • $2,500 for upgraded electric wiring

  • $1,750 for a heat pump water heater

  • $1,600 for insulation, air sealing, and ventilation

  • $840 for an electric stove, cooktop range, or oven

  • $840 for an electric clothes dryer

Raising Taxes on Corporations and Reducing the Deficit

• The Inflation Reduction Act does not raise taxes on small businesses or Americans earning under $400,000 a year. In fact, it funds its healthcare and climate measures primarily by making large corporations pay their fair share.

• The law also implements a 1% tax on stock buybacks, which is what happens when companies purchase shares of their own stocks—moves that often enrich already-wealthy shareholders by driving up the value of the stock.

• The law accomplishes all this while reducing the federal deficit by $300 billion.

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Johnson Abandons Wisconsin Workers and Families in Favor of the Status Quo

Inflation Reduction Act passes Senate, will make historic investments in economy, climate, health care and middle class, no thanks to Sen. Johnson

Sunday, August 7, 2022

MADISON, Wis.—Today the U.S. Senate passed the Inflation Reduction Act of 2022, a historic bill that will make meaningful investments in our economy, climate, health care and middle class. U.S. Senator Ron Johnson voted against the measure, while Senator Tammy Baldwin voted in support.

Meghan Roh, Opportunity Wisconsin Program Director:
“It’s hard to overstate just how much the Inflation Reduction Act will do to bring down costs for Badger State residents. Whether it’s lowering health care and energy costs, while also lowering the deficit, or making corporations pay their fair share in taxes–this historic bill will go a long way to give Wisconsin workers and families the relief they need. We’re incredibly grateful to our elected leaders like Senator Baldwin who have heard our voices and supported the Inflation Reduction Act.

“Unfortunately, the only voices Senator Johnson seems to listen to are those of the wealthy and well-connected. Wisconsinites are struggling to make ends meet and instead of voting for a bill to bring down costs, Senator Johnson continues to prioritize himself and those like him. As someone who loves to talk about rising costs and inflation, Senator Johnson’s ‘no’ vote on the Inflation Reduction Act shows us that his words are nothing but empty rhetoric. It’s time for Senator Johnson to stop putting politics over the people of Wisconsin.”

Learn more about the Inflation Reduction Act of 2022.

Inflation Reduction Act: A Win for Wisconsin Workers and Families

Opportunity Wisconsin calls on Senators Baldwin and Johnson to support this historic investment in our economy, climate, health care, and middle class

Friday, August 5, 2022

MADISON, Wis.—As the U.S. Senate prepares to vote on the Inflation Reduction Act of 2022, Opportunity Wisconsin is calling on Senators Tammy Baldwin and Ron Johnson to support the bill, which would make historic investments in our economy, climate, health care and middle class.

Meghan Roh, Opportunity Wisconsin Program Director:
“In the coming days, our elected representatives will have the opportunity to take a historic vote to lower costs for Wisconsin workers and families. Not only does the Inflation Reduction Act lower health care and energy costs, while also lowering the deficit, but it also cracks down on corporations to make sure they pay their fair share in taxes.

“While he’s been in the U.S. Senate, Ron Johnson has looked out for himself and people like him, at the expense of working Wisconsinites. Now, he has the opportunity to vote for a bill that will help level the playing field and give Wisconsin workers and families a fair shot to get ahead. We’re calling on both Senator Johnson and Senator Tammy Baldwin to support this bill when it comes up for a vote in the Senate.”

Learn more about the Inflation Reduction Act of 2022.

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[ICYMI] Milwaukee Journal Sentinel: Ron Johnson calls for subjecting Medicare and Social Security to annual budget talks

Senate Majority Leader Schumer: “Well, you know what happens when we make things discretionary around here? All too often they get cut or even eliminated.”

Thursday, August 4, 2022

MILWAUKEE, Wis.—According to the Milwaukee Journal Sentinel, on Tuesday Senator Ron Johnson suggested that Social Security and Medicare should be put on the chopping block and subjected to the partisan whims of Congress and its annual budget negotiations.

Meghan Roh, Opportunity Wisconsin Program Director:
“Senator Johnson and his Republican colleagues want to turn Medicare and Social Security into a political football. Wisconsinites work their whole lives paying into Social Security and Medicare, but Senator Johnson wants to be able to take those guarantees away when they retire. Senator Johnson, who once called Social Security a ‘Ponzi Scheme,’ wants to be able to use these lifelines for so many as a bargaining chip that he and his Republican cronies will only fund in exchange for their priorities. We’ve seen time and again how Johnson and his allies use congressional negotiations to cut important programs’ funding or simply let them expire. Now, Senator Johnson wants to add Social Security and Medicare to that mix. It’s time for Senator Johnson to stand up for Wisconsin workers and families instead of standing on the side of the wealthy and well-connected.”   

Milwaukee Journal Sentinel: Ron Johnson calls for subjecting Medicare and Social Security to annual budget talks

Republican U.S. Sen. Ron Johnson indicated Tuesday that Medicare and Social Security should be subjected to annual budget deliberations, a move that could upend guaranteed benefits relied upon by millions of Americans.

Johnson, who is running for a third term in November in a race that could shape the balance of power in the Senate, made his comments during an interview on the Regular Joe Show, hosted by Joe Giganti.

Federal spending is in two baskets — discretionary spending which comes in annual appropriations in areas like defense and public works and mandatory spending that is generally governed by statute and includes entitlement programs like Social Security and Medicare that provide guaranteed benefits.

During the interview, Johnson was asked about the PACT Act — aid to veterans who have been exposed to toxic burn pits — and a controversy over discretionary vs. mandatory spending.

In his answer, Johnson suggested that he seeks to turn everything in the federal budget into discretionary spending — including Social Security and Medicare — so that programs can be evaluated and fixed.

"Defense spending has always been discretionary," Johnson said. "VA spending is discretionary. What's mandatory are things like Social Security and Medicare. If you qualify for the entitlement you just get it no matter what the cost. And our problem in this country is that more than 70 percent of our federal budget, of our federal spending, is all mandatory spending. It's on automatic pilot. It never ... you just don't do proper oversight. You don't get in there and fix the programs going bankrupt. It's just on automatic pilot.
…
Senate Majority Leader Chuck Schumer criticized Johnson on the floor of the Senate on Wednesday.

“Just yesterday, the junior senator from Wisconsin argued that instead of strengthening Medicare and Social Security, we should put them on the chopping block. Hear that, citizens of Wisconsin, citizens of America? The junior senator from Wisconsin wants to put Medicare and Social Security on the chopping block.”

“He has argued that the benefits which millions of Americans rely on every day shouldn’t be guaranteed but should be subject to partisan infighting here in Washington. He would like to revoke the guarantee of Medicare and Social Security and make them discretionary. Well, you know what happens when we make things discretionary around here? All too often they get cut or even eliminated.”

Read more from the Milwaukee Journal Sentinel.

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