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Joe Biden - Chuck Schumer - Urban Institute - Joe Manchin - What's in, and out, of Democrats' climate, health care and inflation bill - fox29.com - Usa - state West Virginia - Washington
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What's in, and out, of Democrats' climate, health care and inflation bill
WASHINGTON - What started as a $4 trillion effort during President Joe Biden's first months in office to rebuild America's public infrastructure and family support systems has ended up a much slimmer, but not unsubstantial, compromise package of inflation-fighting health care, climate change, and deficit reduction strategies that appears headed toward quick votes in Congress.Lawmakers are poring over the $739 billion proposal struck by two top negotiators, Senate Majority Leader Chuck Schumer and holdout Sen. Joe Manchin, the conservative West Virginia Democrat who rejected Biden's earlier drafts but surprised colleagues late Wednesday with a new one.What's in, and out, of the Democrats' 725-page "Inflation Reduction Act of 2022" as it stands now:Launching a long-sought goal, the bill would allow the Medicare program to negotiate prescription drug prices with pharmaceutical companies, saving the federal government some $288 billion over the 10-year budget window.Those new revenues would be put back into lower costs for seniors on medications, including a $2,000 out-of-pocket cap for older adults buying prescriptions from pharmacies.Money would also be used to provide free vaccinations for seniors, who now are among the few not guaranteed free access, according to a summary document.Matthew Buettgens, a senior fellow at the Urban Institute, explains how the unwinding of Medicaid continuous coverage once the public health emergency ends will present certain challenges.The bill would extend the subsidies provided during the COVID-19 pandemic to help some Americans who buy health insurance on their own.Under earlier pandemic relief, the extra help was set to expire this year.
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