NEW YORK – The U.S. Senate has approved the Inflation Reduction Act that will deliver what Senate Majority Leader Charles Schumer (D, New York) said was the largest investment in fighting the climate crisis, bringing down prescription drug costs and fighting inflation.
The senator said chief among the prescription drug reductions will be on insulin.
“We’re putting a cap on insulin for those in Medicare at $35. Insulin is so vital to so many people in upstate New York. Hundreds of thousands depend on insulin that now can cost $600, $700, $800 a month, and people can’t afford that,” he said. “People can’t afford that, yet they need that to protect themselves against diabetes.”
Schumer said clean energy investments alone are estimated to create nearly 1.5 billion new jobs nationwide, and he said it will also reduce the inflation rate by about $300 million.
