Mom Confessions

Biden administration signed into law The Inflation Reduction Act.

The law requires a 15% minimum federal tax rate on all large corporations. Reduce the federal deficit by $305 billion over 10 years.
Medicare Part D will have cheaper premiums next year with a cap of $2,000 on out of,pocket prescription costs .
A lot of tax incentives to crease energy efficiency.
More middle class families will qualify for health care premium subsidies.
Additional IRS workers help with customer service and collecting taxes due from deadbeats.

Inflation won’t go away overnight and who knows what will effect the federal deficit over ten years but a lot of positives.



https://abcnews.go.com/Politics/calcula ... d=88458834

"$305 billion over 10 years."

Not enough.

Not a thing in this aimed at reducing inflation. It will increase it.

I'm interested in the healthcare premium subsidies. What will that look like?

Thelma Harper wrote: ↑Thu Sep 29, 2022 6:50 am "$305 billion over 10 years."

Not enough.

It's like trying to guess what the stock market will be doing in the next ten years.

The FED is going to reduce it right into a recession.

RIZZY1 wrote: ↑Thu Sep 29, 2022 12:25 pm I'm interested in the healthcare premium subsidies. What will that look like?

The premiums are not going up and they have increased the subsidies to reach more middle class incomes. I think every state might be different and it can be hard to figure out. Definitely worth looking at what's being offered and compare it to what you have.

RIZZY1 wrote: ↑Thu Sep 29, 2022 12:25 pm I'm interested in the healthcare premium subsidies. What will that look like?

Not sure if they will change, but they will be continued through at least 2025. Without this bill the current Federal subsidies were due to expire.

There is a new out-of-pocket limit for Medicare drug costs at $2,000 per year, and also a $35 per month cap on the cost of insulin.

They’re the ones that raised it… how novel that they’ve come up with a solution for the problem they caused.


Only this solution sucks.

MonarchMom wrote: ↑Thu Sep 29, 2022 5:29 pm

RIZZY1 wrote: ↑Thu Sep 29, 2022 12:25 pm I'm interested in the healthcare premium subsidies. What will that look like?

Not sure if they will change, but they will be continued through at least 2025. Without this bill the current Federal subsidies were due to expire.

There is a new out-of-pocket limit for Medicare drug costs at $2,000 per year, and also a $35 per month cap on the cost of insulin.

Biden wanted to cap insulin prices for everyone not just Medicare users. But Republicans blocked it. They voted for the pharmaceutical companies and against the American people.