Senator Revered Warnock voted to pass the Inflation Reduction Act, comprehensive legislation that will pay down the nation’s debt by more than $294 billion, invest in clean energy initiatives that will spur job growth and fight climate change, extend expanded ACA subsidies to prevent health care costs from spiking for Georgia families, and lower prescription drug costs by allowing Medicare to negotiate drug prices
Two major pieces of legislation that Senator Reverend Warnock introduced are included in The Inflation Reduction Act —his bill to cap insulin costs at $35 a month for patients on Medicare, and his plan to cap the cost of prescription drugs for seniors at $2,000 a year
Senator Reverend Warnock: “I’m especially proud the legislation includes two provisions I introduced to cap insulin costs for Medicare patients at $35 a month, and to limit the cost of prescription drugs for seniors. This bill will strengthen health care access and lower health care costs for people across Georgia”
Bill extends ACA subsidies, which Senator Reverend Warnock has been working hard to enact
Senator Reverend Warnock’s plan to provide tax credits to the domestic solar manufacturing sector as well his plan to incentivize the creation of sustainable aviation fuel are also both included in The Inflation Reduction Act
Senator Reverend Warnock: “I’m thrilled we were finally able to pass this historic, once-in-a-generation investment in our country’s future that will lower costs for Georgians, create clean energy jobs and reduce the deficit all at the same time”
Washington, D.C. — Today, the United States Senate approved two pieces of legislation introduced and championed by U.S. Senator Reverend Raphael Warnock (D-GA) that will reduce health care costs for Georgians, as the Senator and his Democratic colleagues voted to pass comprehensive legislation known as the Inflation Reduction Act that will lower rising costs, strengthen access to affordable health care, create clean energy jobs and pay down the nation’s debt.
The Inflation Reduction Act includes two proposals introduced by Senator Warnock—provisions from his bill to cap the cost of insulin at $35 a month for Medicare patients, and his plan to cap the cost of prescription drugs for seniors at $2,000 a year. The Inflation Reduction Act also extends critical federal subsidies for patients who purchase health care on the ACA marketplaces, which will prevent those patients’ health care costs from spiking. Importantly, the bill also empowers Medicare to begin negotiating directly for the price of prescription drugs, a move that will lower drug costs for patients in the program.
“I’m thrilled we were finally able to pass this historic, once-in-a-generation investment in our country’s future that will lower costs for Georgians, create clean energy jobs and reduce the deficit all at the same time,” said Senator Reverend Raphael Warnock.“I’m especially proud the legislation includes two provisions I introduced to cap insulin costs for Medicare patients at $35 a month, and to limit the cost of prescription drugs for seniors. This bill will strengthen health care access and lower health care costs for people across Georgia.”
“I’m not in love with politics, I’m in love with change—and this legislation will make real change in people’s lives. From saving seniors money by allowing Medicare to directly negotiate drug prices, to expanding vital health care subsidies, to greening the economy, this legislation will make a lasting impact on Georgians’ lives,” continued Senator Warnock.
The Inflation Reduction Act also includes other priorities Senator Warnock pushed, including his plan to incentivize domestic solar manufacturing, which will help create more clean energy jobs, as well his plan to promote the creation of sustainable aviation fuel. Additionally, the Inflation Reduction Act includes critical support for economically distressed farmers to prevent harmful farm foreclosures, which Senator Warnock has championed. During debate on the bill, Senator Warnock also offered an amendment to the legislation to close Georgia’s Medicaid coverage gap, which he has long been fighting for.
See below key provisions in The Inflation Reduction Act that will benefit Georgians:
- Capping Drug Costs for Seniors: Senator Warnock’s provision to cap Medicare patients’ out-of-pocket costs at $2,000 per year, with the option to break that amount into affordable monthly payments.
- In April, Senator Warnock introduced this policy as the Capping Drug Costs for Seniors Act, and in July, held a Senate Aging Committee field hearing in Fayetteville, Georgia about the urgent importance of passing the legislation.
- Affordable Insulin Now: Senator Warnock’s $35-a-month cap on out-of-pocket costs for insulin users covered by Medicare.
- In February, Senator Warnock introduced this policy as the Affordable Insulin Now Act, and has led the fight in Washington to address high insulin costs.
- Access to Affordable Health Care: Extends Affordable Care Act (ACA) premium tax credit expansion, as passed in the American Rescue Plan, through 2025.
- Enrollees will pay no more than 8.5 percent of their income toward health coverage—down from the current roughly 10 percent. Lower income enrollees will have their premiums eliminated.
- The premium tax credits will also be available to those over 400 percent of the federal poverty level.
- Drug Pricing Reform: Empowers Medicare to begin negotiating directly for the price of prescription drugs (including insulin) in 2026.
- Inflation Rebate: Institutes a new “inflation rebate” under Medicare so that drug companies must rebate back the difference to Medicare if they raise prices higher than inflation.
- Free Vaccinations for Seniors: Provides free vaccines for seniors. Finally makes all vaccines free in Medicare for seniors, the only population for which vaccines were not already free.
- Lower Rx Costs: Expands premium and co-pay assistance on prescription drugs for low-income individuals.
- Currently, the low-income subsidy program (LIS) under Medicare Part D is fully available to all seniors earning less than 135% of the federal poverty level, and partially available to seniors earning less than 150% of the federal policy level. The bill eliminates the partial subsidy status, giving those seniors the full low-income subsidy under Medicare Part D.
ENERGY & CLIMATE
- Solar Manufacturing: Production tax credits to accelerate U.S. manufacturing of solar panels, wind turbines, batteries, and critical minerals processing, estimated to invest $30 billion.
- This includes language from Senator Warnock’s Solar Energy Manufacturing for America Act, which would provide tax credits to the domestic solar manufacturing sector. This provision would benefit solar manufacturers in Georgia such as Q Cells.
- Sustainable Aviation: $297 million in federal investments for the Alternative Fuel and Low-Emission Aviation Technology Program, which will create a competitive grant program for projects related to production, transport, blending, or storing of sustainable aviation fuel (SAF). The grants can also be used to develop, demonstrate, or apply low-emission aviation technologies.
- This provision is based on the Aviation Emissions Reduction Opportunity (AERO) Act, which Senator Warnock introduced. This provision would help make SAFs more accessible for airports, airlines, and other entities in Georgia and throughout the nation that are working to lower emissions in the aviation industry.
- Sustainable Fuel Tax Credit: A tax credit starting at $1.25 per gallon for blenders that supply sustainable aviation fuel (SAF) with a demonstrated 50 percent or greater lifecycle estimate reduction in greenhouse gas (GHG) emissions compared to standard jet fuel. In order to incentivize innovation and greater reductions in GHG emissions, the legislation provides an additional credit of $0.01/gallon for each percentage the fuel reduces emissions over 50 percent—for instance, a SAF that reduces emissions by 70 percent would receive a credit of $1.70/gallon.
- This provision is based on the Sustainable Skies Act, which Senator Warnock was an original cosponsor to.
- Electric Buses: Federal investments totaling $1 billion to replace non-zero-emission heavy-duty vehicles with clean heavy-duty vehicles, including school and transit buses and garbage trucks.
- Senator Warnock was an original cosponsor of the Clean Commute for Kids Act, which would help replace existing diesel buses with electric buses and contribute to cleaner air in communities.
- Restoring Coastal Habitats: $2.6 billion in federal investments to conserve and restore coastal habitats and protect communities that depend on those habitats.
- Includes $1 million for the Gray’s Reef National Marine Sanctuary visitor center in Savannah, as well as $100 million for Hurricane Hunter aircraft manufactured by the Gulfstream Aerospace Corporation headquartered in Savannah, GA.
- Clean Auto Manufacturing: $2 billion in grants to retool existing auto manufacturing facilities to manufacture clean vehicles, ensuring that auto manufacturing jobs stay in the communities that depend on them.
- Home Energy: $9 billion in consumer home energy rebate programs, focused on low income consumers, to electrify home appliances and for energy efficient retrofits.
- Energy Efficiency:10 years of consumer tax credits to make homes energy efficient and run on clean energy, making heat pumps, rooftop solar, electric HVAC and water heaters more affordable.
- Affordable Housing Energy Efficiency: $1 billion grant program to make affordable housing more energy efficient.
- Heat Pumps: $500 million in the Defense Production Act for heat pumps and critical minerals processing
- Energy Research: $2 billion for National Labs to accelerate breakthrough energy research.
- Ports: Federal grants to Reduce Air Pollution at Ports, funded at $3 billion, support the purchase and installation of zero-emission equipment and technology at ports.
FARMERS & AGRICULTURE, FORESTRY & RURAL COMMUNITIES
- Economically Distressed Farmers: $3.1 billion to support farmers in Georgia and across the nation who are economically distressed and most at-risk to losing their farms, as well as $2.2 billion for farmers who have suffered historical discrimination in federal farm loan programs.
- Senator Warnock has championed relief for underserved farmers in the Senate.
- Sustainable Farming: More than $20 billion to support climate-smart agriculture practices.
- Sustainable Forestry: $5 billion in grants to support healthy, fire resilient forests, forest conservation and urban tree planting.
- Rural Energy Efficiency: $14 billion focused on clean energy in rural communities, including support for rural electric cooperatives transitioning to clean energy and investments in the domestic production of biofuels, including infrastructure needed for sustainable aviation fuel and other biofuels.
Find more information about the Inflation Reduction Act, including the full legislative text, visit HERE.
Title and affiliation are provided for identification purposes only. A pastor and social justice advocate, Senator Reverend Raphael Warnock was elected to the United States Senate in 2021 and serves on the Senate Agriculture, Banking, and Commerce committees, as well as the Joint Economic Committee and Senate Special Committee on Aging.