How the Dems-Biden Inflation Reduction Act helps Wisconsin

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August 16, 2022
Happy Tuesday, Wisconsin!


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President Joe Biden signed the Inflation Reduction Act on Tuesday afternoon—a generational investment that a wide array of experts agree will lower healthcare and prescription drug costs, tackle climate change, and reduce inflation for Wisconsin families. The new law:

helps an estimated 43,000 Wisconsinites keep their health insurance by extending Affordable Care Act (ACA) subsidies through 2025 and keeps the cost of premiums low for another 150,000 Wisconsin residents who get coverage through the ACA.

saves Wisconsin seniors money on prescription drugs, caps their out-of-pocket expenses on prescription drugs to $2,000 per year, and implements a $35 monthly cap on insulin for Medicare recipients.

incentivizes industry to transition to renewable energies and provides direct rebates to Wisconsinites who adopt clean-energy stoves, heaters, dryers, and other appliances.

creates up to 9 million jobs across the country, makes the US less reliant on foreign oil, and dramatically reduces emissions that have caused an increase in extreme weather events.

The bill also invests tens of billions of dollars in rural America while only raising taxes on large corporations.

Every Democrat in the US House and Senate voted for the Inflation Reduction Act, while every Republican politician—including Wisconsin Sen. Ron Johnson—voted against it.